Is it okay to ask for a receipt?

[Cap'n Crunch]

Originally Posted by CharlieTonight

Meals and entertainment are only 50% deductible.

50% Tax Deductible just doesn't have the same impact as 100%.

Its like a provider saying "Satisfaction 50% Guaranteed!"

[Britttany_love]

The IRS guideline requires a 1099 for all independent contractors/self-employed for any work $600 or more.

Changes to the Tax Cuts and Jobs Act of 2017 made stricter guidelines starting in 2018 where you are no longer allowed to claim any entertainment expenses (Sporting event tickets; expenses atnight clubs, theaters, country clubs, and other purely entertainment related charges that are directly related to the taxpayer's business. It used to be 50% but it is now 0%. Meals are 50%.

[Agent220]

Originally Posted by mrhamm

Trump writes off his escorts as business expenses. Why shouldn't you?

Trump also has access to a legal team to get himself out of a bad situation.

[quzi]

Trump isn't releasing his tax forms cause they're still in audit. Multiple years. If you want to believe that. But if you ask me, that shit has to cost a lot in legal bills.


On the original subject, if you can defend it in the audit, go right ahead. I tend to be more conservative when it comes to doing my taxes so I'm not going to show up as a flag in the auditors eyes. I've seen some amazing filing that the providers do (bless their heart) and wish I could fudge my returns that much.

[MirandaS]

hahaha