Why You Need an Accountable Plan to Reimburse Expense?

What is an accountable plan? An accountable plan is an expense allowance or reimbursement arrangement that requires employees to prove expenses and return unproved advances. With the plan, the reimbursements are tax-free to recipient employees. And the company can...

Vehicle Deductions

Strategies to Drive Down Taxes with Your Vehicle Your vehicle is nothing else but a type of machine only that takes you from place A to place B. It becomes a super-charged tax-savings machine when you use your vehicle in your business. You have many things to consider...

Corporations Reduce IRS

Corporations Reduce IRS Audit of Home-Office Deductions. How? Are you overly suspicious that your home-office deduction will invite an IRS audit? Well. Countless taxpayers are not able to take advantage of a significant deduction that they’re entitled to because...

When Renting to a C Corporation Creates QBI

  You can save a lot of money through one section of the tax code. I’m talking about Section 199A. When you rent an office or other building to your personally owned C Corporation, it will claim a valuable 20-percent qualified-business-income (QBI) deduction. Of...