Sentences with phrase «travel and entertainment deductions»
Large travel and entertainment deductions invite scrutiny by the IRS.
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Claiming ambiguous general expenses, making charitable donations that seem out of reach with income, and / or claiming large travel and entertainment deductions also could prompt the IRS to contact a filer.
On the downside, the travel and entertainment deduction has been eliminated.
Not exact matches
Dig Deeper: Travel Tax Deductions How to Write Off T&E: Entertainment Like meals and lodging while traveling, entertainment for business purposes is 50 percenEntertainment Like meals and lodging while traveling, entertainment for business purposes is 50 percenentertainment for business purposes is 50 percent deductable.
First, be aware that the three items the IRS reviews the most are car expenses, travel and entertainment expenses, and home office deductions.
Does your business allow you to make deductions for meals and entertainment, travel or educational costs?