The IRS has issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. As always, please contact our office if you wish to discuss any of these changes and how they may directly affect your business. Sincerely yours, Dean R. Holland,…
Business travel, an expensive and time-consuming activity for both the employer and employee, also can create tax problems for all concerned unless the rules are followed to the letter. If it’s done right, business travel will be fully deductible by the company (but only 50% of travel meals are deductible), tax-free to the employee, and…
Dear Client, Business travel, a necessary evil at many companies, can be an expensive and time-consuming activity for both employer and employee. It also can create tax headaches for all concerned unless the rules are followed to the letter. If it’s done right, business travel will be fully deductible by the company (but only 50%…
