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Tax Strategies: How to Maximize Tax Deductions with Meals - Ep 156
Tax Strategies: How to Maximize Tax Deductions with Meals - Ep 156

Tax Strategies: How to Maximize Tax Deductions with Meals - Ep 156

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Ever wonder how to navigate the maze of meal deductions as a business owner? Join us in this insightful episode where Danielle Hayden, founder and CEO of Kickstart Accounting Inc., and Kelsey Chester, Lead Account Manager, break down the misconceptions about deducting meals for your business, and how to stay compliant with the IRS. From deductions for company events to the nuances of 50% deductions for meals with clients, everything you need to know is in this episode. Tune in now before your next dinner out!   Key Takeaways: Learn how to confidently navigate meal-related tax strategies to maximize tax deductions for your business. Discover when you can claim 100% deductions from meals and when to claim 50%, and avoid common pitfalls that could cost you money. Get essential tips on proper financial documentation for meals, what details you need to record, and why it matters for IRS compliance.  Avoid common mistakes business owners make when it comes to deducting meals, helping you stay on the right side of the IRS.   Topics Discussed:  Intro (0:00) Maximize Tax Deductions, Not Dine on Taxes (0:51) Examples: 100% Tax Deduction when Looking at Meals (2:29) Examples: 50% Tax Deduction when Looking at Meals (4:07) Meal with Spouse for Business Purposes: 50% OR 100%? (4:37) Money Mindset Mastery Framework  IRS Guidelines Regarding Meal Tax Deductions (4:54) Bookkeeping Perspective (6:23)   Episodes Mentioned: EP 77 – Retirement Plan Strategies That Will Reduce Your Business’s Tax Liability   For help with business and personal goals and more, visit: https://kickstartaccountinginc.com/get-started/ Connect with Kickstart Accounting Inc.: Instagram | @Kickstartaccounting YouTube | @EntrepreneurMoneyStories Website | Kickstart Accounting, Inc. Facebook | Kickstart Accounting, Inc.  

Tax Strategies: How to Maximize Tax Deductions with Meals - Ep 156

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