Business meals, travel, and autos: for you, your executives, your employees

Article Abstract:

Less tax deductions, penalties and interests are results of business owners and executives' poor recordkeeping and non-compliance with IRS rules, Higher tax payments are also is caused by not recording or losing receipts of expenses in travel, entertainment and automobile renting, repair or maintenance. Hence, business owners and executives are advised to properly document their expenses, including those of their family members and employees to increase their tax deductions.

Tax Management, Taxation, Tax accounting, Executives, Businessmen

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Business tax checklist: 25 ways to reduce and defer taxes

Article Abstract:

Several options are available to businessmen who would like to postpone the payment of taxes or reduce the due amount. Some of these include the acceleration of the payment of deductions and expenses, anticipation of losses, payment of compensation and bonuses and increase in federal tax withholdings before Dec. 31. Businessmen may also opt to incorporate operating losses in the company's financial statement.

Personal Tax Planning, Personal finance

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