Monthly archive for February 2015

Travel Deductions Allowed by IRS

When you travel on business you can deduct some of those travel expenses on your tax return. Deductible expenses for transportation includes travel via airplane, bus, train or car between your home and your business destination. Expenses for taxi, commuter bus and airport limousine can be deducted for the following uses:

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Types of Records You Need to Keep for Federal Tax Purposes

The IRS requires businesses to be able to clearly show income and expenses.To be deductible a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful

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