Accounting News and Notes

Atlanta CPA Tax Quotes: Tax Deductions for Business

“Generally speaking, the rules for deducting business expenses are rather simple. First and foremost, the expense must be directly related to the business. For whether you are purchasing office supplies or incurring expenditures for advertising, you should be able to show how a particular expense benefits the business. Secondly, whether you are traveling to see a client or looking to add rental space, you will want to be sure that a cash outlay furthers or promotes the business by enabling it to pursue its ultimate goal of serving its customers.” — Atlanta CPA, John Dillard CPA 

“IRS tax law requires all business expense to be clear evidential matter that it is indeed a valid deductible business expense. Saving a clearly documented invoice/receipt is your best way to ensure you have proper tax documentation.”  — Atlanta CPA, John Dillard CPA 

“As an Atlanta CPA for decades, historically over the years every car purchased for everyday use has resulted in the same conclusion; a car is a bad investment. Though leasing does have its advantages, and I believe there are many scenarios when this option of financing is best, I generally lean toward buying a car vs. leasing. Like many others, I too have a romantic inclination towards cars and the appeal of both a new car look and a new car smell, however that doesn’t change the fact that cars are bad investments.” — Atlanta CPA, John Dillard CPA

www.HisCPA.com A Christian CPA Firm in Duluth GA Proudly Serving Suwanee, Lawrenceville, Snellville, Lilburn, Duluth, Norcross, Peachtree Corners, Atlanta, Gwinnett, Johns Creek, Roswell, Forsyth, Flowery Branch, Buford, Dunwoody, Grayson, Alpharetta, Roswell, Dunwoody, Sandy Springs & Tucker as an Award Winning CPA

This entry was posted on Wednesday, May 30th, 2012 at 12:03 pm and is filed under Business/Tax Consulting, Financial Planning, Business Loans & Money Management, Financial Statements & Bookkeeping, Income Tax Preparation of Corporate & Personal Income Taxes.
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