Even if they’re part of an entertainment activity, you can still take tax deductions on your business meal expenses, the IRS clarified in temporary guidance issued in early October. The tax reform law, which was enacted at the start of the year, ended deductions for business-related entertainment, amusement, or recreation but created uncertainty about whether associated meals […]
Tax Tip #1: Business Tax Deduction
One of the biggest wins for REALTORS® in last year’s tax reform bill is the new 20% business income deduction, also known as Section 199A. What should you be doing to ensure you’re positioned to get the most out of the business income deduction in your 2018 taxes, due next year in April? CPA Peter […]