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13 Non-deductible Expenses and Other FAQs for Tax Time

inDinero Tax Tips

Nor can you write off late fees paid on federal or state taxes owed with your tax return 8. Nondeductible Entertainment Expenses You may wonder if you can write off entertaining clients as a business expense. Unfortunately, these are nondeductible entertainment expenses.

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What happens if you get audited and don’t have receipts?

xendoo

Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts? Receipts are records and proof of payment for the income and expenses your small business claims on tax returns.

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article thumbnail

What happens if you get audited and don’t have receipts?

xendoo

Receipts businesses should keep What happens if you get audited and don’t have receipts What to do when you don’t have receipts How bookkeeping and tax services help Why do businesses need receipts? Receipts are records and proof of payment for the income and expenses your small business claims on tax returns.

audit 52
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9 eCommerce Tax Deductions for 2021

xendoo

In other words, if your home office doubles as a nursery or workout room, you’ll likely be unable to claim it as a deduction on your tax return. If you use the simplified option for claiming tax deductions, the IRS permits you to deduct $5 per square foot of office space. Tax Planning Takes Time and Xendoo Can Help.

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