February 12, 2010 
This entry was posted on Friday, February 12th, 2010 at 7:51 pm and is filed under Small Business, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Did you know that the IRS doesn’t mind that you mix business with pleasure within reason? Among the many small business tax deductions available, there is what you call entertainment deductions where you can deduct up to 50% of entertainment expenses for unreimbursed business meetings. However, the entertainment must be within “a clear business setting” such as a conference, or should immediately precede or follow a business meeting.
Unreimbursed travel expenses are also tax-deductible. The IRS recommends keeping a log of your expenses and receipts because transportation (e.g. airfare), lodging, and even dry cleaning can be deducted as well as half of any business meals. You can also deduct expenses for business associates traveling with you.