Sorry folks, but my friend HaC and I came up with one more rule for the challenge regarding business expenses. As mentioned in my bio, I am a Realtor. And as a Realtor, I have to pay for everything myself, such as my health insurance, printing, postage, crystal meth, and ENTERTAINING CLIENTS. Mmm... sounds vaguely pornographic, no? Well, it's not.
I had a business breakfast this morning, and I picked up the tab. It cost more than $20, even though we were only dining at Perkins for cripes sake. But, I chose to look at it this way: 1. my meal was less than $20, and my guest's meal on it's own was less than $20, and that's two separate items, 2. it's a tax right off, so, 3. it's a business expense. If I can claim it on my income tax, it's a business expense. That's just sound fiscal reasoning.
HOWEVER, I cannot use this as a justification for a new outfit or shoes. These frivolous items would trigger an audit fo' shizzle, and I live in fear of the IRS. So, new rule:
Rule Number Ten: Business expenses may exceed the $20 limit. It is considered a business expense if I can claim it on my income tax.
Now here's hoping the taxman does not cometh.
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1 comment:
It is really nice to be able to claim your crystal meth as an expense when doing your taxes. Those sweet folks at the IRS!
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