Substantiation

Meal Expense Tax Deductibility – 50% vs 100%

Abstract: Any food and beverage expenses that are directly related or associated with the active conduct of a trade or business are allowed to be deducted as [...]

IRS Clarifies Who Is Subject to 50% Limit on Meal and Entertainment Expenses

The IRS issued final regulations clarifying which party is subject to the 50% limit on deductible meal and entertainment expenses under Sec. 274(n) (T.D. [...]

What If A Taxpayer Doesn’t Have Receipts?

If you understand anything about our tax system, it's probably that you must have receipts. As a tax lawyer for the last 30 years, it seems like heresy to [...]

Three Tax Mistakes You Make Every Day

Harvey Silverglate's new bookThree Felonies a Day argues that a combination of vague laws and changing technologies has led the average American to [...]

Tax Return Filed? Now Consider Your Records

No one likes organizing records. If you just finished your tax return filings the last thing you want to do is look at them again. But now is the perfect [...]