95 episodes
New tax laws for 2020 David Fender
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- Business
Overview of the SECURE Act and TCDTRA enacted on December 20, 2019.
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Business expenses ....continued
Rent expense
Rent
Unreasonable rent
Rent on your home
Rent paid in advance
Taxes on leased property
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Business Expenses ....continued
Bonuses
Education Expenses
Fringe Benefits
Meals & Lodging
Transportation (commuting) benefits
Employee benefit programs
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Business expenses continued...Employees' Pay
Employees' Pay
Tests for Deducting Pay
Test 1. It must be reasonable.
Test 2. It must be for services performed.
Kinds of Pay
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Business expenses continued
Improvements
Capital vs Deductible Expenses
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Corporate Business Expenses continued
What Can I Deduct?
Cost of Goods Sold
Capital Expenses
Going into Business
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