Tag Archives: Deductions

Business Travel: Stay at the Mom & Dad Hotel

Business Travel, BusinesssBy Carlos Samaniego, EA February 1, 2022

Imagine this: • Tax deduction for you • Tax-free income for Mom and Dad It doesn’t have to be Mom and Dad. The tax-free income can go to your brother or sister, or your best friend. To make this work, you need to have a business reason to travel and stay overnight at the Mom…

5 Year-End Tax-Deduction Strategies In Case of Marriage or Divorce

Family, IRS, ParentsBy Carlos Samaniego, EA December 9, 2018 Leave a comment

Here are five year-end tax-deduction strategies that apply if you are getting married or divorced, have children who did or could work in your business, and/or have situations where you give money to relatives and friends. 1. Put Your Children on Your Payroll Did your children under age 18 help you in your business this…