Hey ,
Ten $100 meals with a client or service provider equal $1,000. But then, you
can have twice or thrice this much in a single year, depending on the type of business you run.
If it’s three times, we are talking $3,000 worth of these business meals.
In a layman’s view, this money should be straight out of the business account, hence an instant business write-off when you prepare your taxes.
Gut guess what? This is never the case because, on the other hand, the IRS still thinks some businesses may lie about their write-offs, so there are high chances the IRS may want to see evidence that you, indeed, ate those meals under the correct circumstances.
This is when most of you lose it – because you usually don’t have enough evidence to show that these were legitimate business meals. In the end, you are failing to reduce your taxable income by these thousands of dollars – just leaving money on the IRS table just like that.
How can
you fix this?
If you want to start deducting all business meals and never have the IRS throw them off, attend my HOW TO DEDUCT BUSINESS MEALS Tax Class, happening this Thursday at 9 PM EST.
There is not much time left to register, so hurry and grab your seat only for $47. Click the link below to register and start saving money in your business. See
you soon!!
