by Pedro Gonzalez, CPA | May 26, 2021 | Tax Advantages, Tax Strategies
You take Bill, your best customer, to the local country club and treat him to 18 holes of golf. The golf produces a zero deduction. However, if you take your employees and their spouses and children to the local country club, where they play golf and tennis; swim;...
by Pedro Gonzalez, CPA | Mar 5, 2021 | Business Planning, Tax Strategies
Disasters are always bad news. Fires, floods, freezes, and other disasters can damage or destroy the personal or real property you use to keep your business up and running. However, you may be able to deduct your losses. And you are not subject to many of the...
by Pedro Gonzalez, CPA | Feb 7, 2020 | Real Estate, Real Estate Investing, Tax Advantages
Most people are unaware that rental real estate gets more tax deduction benefits than almost any other investment. If you do not take full advantage of tax deduction benefits, it can actually mean the difference between having a loss or a profit from your rental...
by Pedro Gonzalez, CPA | Aug 15, 2019 | Tax Strategies
The first step is to remove the word “friend” from your vocabulary when it comes to business meals. From now on, these people are sources of business. Here’s good news for business meals: the Tax Cuts and Jobs Act (TCJA) removed the “directly related and...
by Pedro Gonzalez, CPA | Nov 2, 2018 | Tax Advantages
In Notice 2018-76 issued in October 2018, the IRS states that client and prospect business meals continue as tax deductions under the Tax Cuts and Jobs Act. This is very good news indeed. Under this new IRS guidance, you may deduct 50 percent of your client and...
