Tax
Aug. 22, 2019
Just business, not personal? Be careful, IRS may not agree
Which expenses are business and which are personal? You might think it’s obvious, but your view and the IRS view may differ. These days business and personal can often seem mixed up, such as when you entertain, try to motivate employees, go on combined business and work trips, and more.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Which expenses are business and which are personal? You might think it's obvious, but your view and the IRS view may differ. These days business and personal can often seem mixed up, such as when you entertain, try to motivate employees, go on combined business and work trips, and more.
For some expenses there are special tax rules, such as the rules that took effect starting in 2018 disallowing tax deductions for most entertainment...
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