Small business expense guide or books?
Hey All,
I currently help with doing the accounting and bookkeeping for a small business. I’m constantly asked to look up or research expense types and if a purchase is considered a business expense or if it has a tax deduction. Besides spending time on the IRS website, does anyone know of a guide or even an actual printed book that one can open to look up and find out how something should be applied or if it applies at all?
For Example: I recently had to spend time figuring out what portions of the companies semi-annual business meeting had applicable tax deductions and therefore a legit business expense (like hotel and gas reimbursement for employees) vs Theme park tickets for hours after the business meeting takes place (which according to IRS is not a legit expense for the business since business is not conducted at the actual park grounds)
thank you.