Congratulations for being charitable. Contrary to what many think, charitable contributions are not a deductible business expense. They are deducted on your personal tax return, the 1040. Because of this, charitable contributions should ideally be made from a...
Medical expenses are a tax deduction, but not a business deduction. What does that mean? Something I see frequently is business owners paying for their personal medical expenses or their family’s medical expenses with business funds. The thinking is that...
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