business expense – Kenneth Athon Tax Strategies

2022 Change to Standard Mileage Rates

Your corporation is allowed to reimburse you for your business mileage throughout the year if you provide the company with evidence. Unlike partnerships and sole proprietors, a corporate entity must make a reimbursement payment…

Business Meal Expense deduction changed for 2021-22

For calendar years 2021 and 2022, businesses (including self-employed persons) can deduct 100% of the cost of qualifying business-related food and beverage provided by a restaurant. In prior years, the…