TITLE

Know your business deductions, or else

AUTHOR(S)
Durkin, Karen
PUB. DATE
August 2008
SOURCE
Las Vegas Business Press (10712186);8/4/2008, Vol. 25 Issue 31, pP23
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The author provides insights on the tax deductability of business expenses and trips in the U.S. She negates the idea that a vacation treated by a business owner as for business purposes is deductable as a business spending. The issue is discussed in the Section 162 of the Internal Revenue Code. She stresses that the Internal Revenue Service (IRS) held that a business trip should be primarily for business and one meeting in a week-long vacation is not considered as a business trip.
ACCESSION #
34162082

 

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