Forms 1099-Misc; Filing Deadline & Penalties
Businesses have less than 30 days to file Forms 1099-Misc with the IRS and recipients. The due date is Wednesday, January 31st. Penalties for late or not filing are $520 per recipient. Not all payments to vendors are reportable to the…
Read more“Associated-With Meals”: Is your business meal tax deductible?
Taking a customer or business colleague to lunch or dinner before or after a business meeting is what the IRS calls an “associated-with” meal because the meal occurs before or after the business meeting. The IRS says the meal must have a “clear…
Read more“Directly related meals”: Is your business meal tax deductible?
Taking a customer or business colleague to lunch or dinner and conducting a business meeting is what the IRS calls a “directly related” meal because the meal and business meeting take place at the same time. The IRS says the…
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