A person who can legally bind the corporation, known as a Designated Official (DO), can now access BTA on behalf of their S corporation or C corporation. New features also include tax return, tax account and entity transcripts for the current tax year and some previous tax years, with some transcripts now available in Spanish. With theContinue reading “Business Tax Account”
Tag Archives: business
Can I write off my business car or truck?
If you use your car only for business purposes, you may deduct its entire cost of ownership and operation (subject to limits discussed later). However, if you use the car for both business and personal purposes, you may deduct only the cost of its business use. You can generally figure the amount of your deductibleContinue reading “Can I write off my business car or truck?”
What can I deduct for meals and entertainment?
Enhanced business meal deduction For 2021 and 2022 only, businesses can generally deduct the full cost of business-related food and beverages purchased from a restaurant. Otherwise, the limit is usually 50% of the cost of the meal. To qualify for the higher limit, the business owner or an employee of the business must be presentContinue reading “What can I deduct for meals and entertainment?”
Donovan Niles 