Monthly Archives: January 2020

“Marriage penalty” longer exists!

The “marriage penalty” is due to tax rates for married taxpayers paying more than twice what they would have paid if they has not been married and filed separately. 2019 tax brackets eliminated this for tax brackets below 35%. The … Continue reading

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Business meal deductibility

Entertainment expenses are no longer deductible however meals are still 50% deductible (100% deductible when purchased from a restaurant) and are deductible when they are related to entertainment under certain circumstances. Meals are deductible under the following conditions: 1. The … Continue reading

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