Is the $25 tax deduction limit for gifts per person or couple? Answer: The $25 limit is per person, for the year. If you are giving gifts to clients (who are a couple), each person could qualify for the $25…
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Small Business Deductions
Any donations of your time, whether it’s to a 501(c)3 charitable organization or not, is not deductible as a business expense or personal tax deduction.
Let’s meet for coffee and talk about your taxes! Could I deduct the latte and scone I got? Absolutely, as long as our meeting passes one of these tests from the IRS. Test 1: Directly-Related Test -The main purpose of…
Beginning on Jan. 1, 2018, the standard mileage rates are 54.5 cents for every mile of business travel driven, 18 cents per mile driven for medical or moving purposes, and 14 cents per mile driven in service of charitable organizations.