Month: June 2021

If you’re claiming deductions for business vehicle or meals expenses, expect the IRS to closely review them. It’s important to comply with the strict tax law substantiation requirements for these items. DO keep detailed, accurate records. For each expense, record the amount, the time and place, the business purpose, and the business relationship of anyone … Continue reading “Recordkeeping DOs & DON’Ts for Business Meal and Vehicle Expenses”