Business startup, taxes, and technology

There’s a lot of confusion among taxpayers about what meal and entertainment expenses they can legitimately deduct as business expenses on their tax returns. Professional tax preparers aren’t in complete agreement on the subject either. Not too surprising, considering the length and complexity of the Internal Revenue Code.
As I said in an earlier article, in [...]

The answer to the question “Where do I report my business tax deductions?” depends on three factors:

The legal structure of your business
The tax form(s) you file
The type of expense you’re reporting

Since most small business are either unincorporated sole proprietorships or single member LLCs, I’ll answer the question for those entities. For both of these [...]