Criteria for deducting clothing costs for client photoshoots, including what qualifies as a legitimate business expense.
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Taxes
Details on the $25 tax deduction limit for business gifts per person or couple, and how to apply it.
Tax filing tips for last-minute filers, including extensions, deductions, and avoiding common mistakes.
Maximizing business travel deductions, including what expenses qualify and tips for record-keeping.
Strategies for organizing business receipts and paperwork to streamline tax preparation and ensure accuracy.
Guidelines for accounting charitable donations, maximizing deductions while adhering to IRS regulations.
Understanding the threshold for reporting business income to the IRS and tax obligations for entrepreneurs.
Clarifying the deductibility of business clothing purchases and the IRS criteria for such expenses.
How to properly deduct gifts to clients on your taxes, including limits and conditions under IRS rules.
Determining if gift cards are considered revenue for business accounting and tax implications.