article thumbnail

NEW Tax Deduction: Business Meals are 100% Deductible in 2021!

LyfeAccounting

And of course, an employee of your company should be present for these meals to prove that these are in fact, business meals. Does this apply to entertainment expenses? This full tax deduction does not appear to apply to entertainment expenses. The post NEW Tax Deduction: Business Meals are 100% Deductible in 2021!

Tax 52
article thumbnail

7 ways to attract and win new tax clients

ThomsonReuters

Adding services in the areas beyond filing tax returns, such as accounting, payroll, bookkeeping, business planning, payroll and audit solutions, will always be services clients need. Respondents also indicated interest in receiving other services from their accounting firms. 7) Solidify your role as a trusted advisor.

Tax 105
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

How To Find The Right Online Accountant For Your Business

xendoo

Every small business owner should have access to an accountant. A small business accountant can provide guidance at every stage of your company’s development, and they can be invaluable when it comes to tax preparation, succession planning, and more.

article thumbnail

Home Based Business Tax Advantages and Deductions

LyfeAccounting

Outside of specific expenses we talked about thus far, home-based businesses are also able to deduct other businesses expenses that are non-home related. Here are 6 common deductions for businesses in general: 1. Meals and entertainment: Typically, can deduct 50% of any business-related meal and entertainment expenses.

article thumbnail

Small Business FinTech Takes Center Stage With VCs

PYMNTS

million in Series A funding, Futrli landed support from e.ventures, Notion Capital and firstminute Capital for its small business forecasting and reporting solutions. Reports did not reveal exactly how much of the $1.1 million awarded went to Nisa Finance, however. GreenSlate.

article thumbnail

Small Business Tax Deductions for 2021

xendoo

Non-entertainment-related meals. Note : Business trips must consist of mostly business-related activities, or the IRS will consider it a vacation, and the expenses will not be deductible. Examples include: Transportation costs, such as plane, bus, or train tickets . Lodging costs, such as hotels or Airbnbs .

article thumbnail

How to Start a Business Without Money (2021 Tips & Ideas)

LyfeAccounting

Like walking a dog, entertaining them, and grooming them can seem so simple. If everything is going great then congratulations, you have officially joined the bootstrapped club of starting a business without money! And it’s because when you have undeniable skills and talent, people will develop more trust in you and your company.