Monday, 23 January 2012

Taxes and real estate

Did you know that travel, meals and even entertainment can be treated as tax deductible expenses?
To lower your income tax the rule in the US is that you have discuss your property during, before or after a meal or entertainment you can deduct the cost of it. Make sure you keep all record of who you where with, what did you discuss and where.
Travel its also deductible as long as during your trip you have spent more than 50 per cent of your time (8 hours business days) doing business.
Depredation: Personal property like all what a house could hold that is not for its basic operation can be deprecated.

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