Not All Deductions Are Equal [E059]
This week Hunt discusses the differences in taxation of common expenses that you might not be aware of.
• What kind of meals am I allowed to deduct and how are in house meals different than meals offsite?
• How much of a deduction do I get if I donate my services to a charity or donate a piece of business equipment?
• Should I write off my life insurance premiums?
• What other classifications should I be aware of on my P&L that could effect my end of year taxes?
Thanks to our sponsor partner NAPA TRACS
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online : www.paarmelis.com
Email Hunt: podcast@paarmelis.com
Get a copy of my Book : Download Here
Transcript
**Classification of expenses [:**Exceptions to the rule [:s and entertainment expenses [:rding entertainment expenses [:ls and entertainment expense [:nses as advertising expenses [:**Classification of Expenses [:**Meals [:% Deductible Meals [:**Business Meals [:ce of Shop Management System [:s and Entertainment Expenses [:% Deductible Meals [:**Classifying Expenses [:**Onsite Meals [:**Classification of Expenses [:oyee Parties and Open Houses [:% Meals [:**Meals and Entertainment [:**Charitable Contributions [:izing and Standard Deduction [:Contributions vs Advertising [:**Charitable Contributions [:onating Equipment to Charity [:Off Work Done for Charities [:**Charitable Expenses [:ons to Charitable Deductions [:**Insurance Deductions [:ance of Disability Insurance [:and Life Insurance Premiums [:ting Life Insurance Premiums [:**Insurance and Deductions [:**Fines and Penalties [:Careful with Categorization [:**Exceptions to the Rule [:**Classification of Expenses [:**Tax Code Complexity [: