ESOPs
Employee Stock Ownership Plans A quote from Wayne W. Dyer is “Begin with the end in mind. Start with the outcome and work backward to make your dream possible.” In starting your business, you need to have the end in…
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What determines if Travel Days are Business or Personal?
What determines if Travel Days are Business or Personal? When travelling to a business location where you spend the night, you are in travel status. You can deduct the cost of travel in addition to costs of sustaining life for…
Independent Contractor vs Employee Classification
Independent Contractor vs Employee Classification Should you hire your worker as an employee or independent contractor? The IRS relies on three factors to determine whether a worker is classified as an independent contractor or employee as follows: Behavioral control. If…
Deducting Meals and Entertainment Expenses from Your Tax Return
During the COVID-19 pandemic, restaurants were either closed completely or forced to offer limited services. In helping the restaurant industry get back on its feet, the IRS, by way of Notice 2021-25/Section 274, is allowing your business to also benefit…