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161 \\ IRS Rules for Bigger Business Deductions: 3 CPA-Approved Steps to Cut Taxes

Author
Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
Published
Mon 02 Dec 2024
Episode Link
https://smallbusinessfinance.podbean.com/e/161-unlock-bigger-business-deductions-3-simple-irs-approved-steps/

In this episode, learn how to turn everyday business expenses into bigger deductions with three IRS-approved rules. Many small business owners miss out on deductions because they don’t know how to structure expenses correctly. We break it down: how to make sure an expense has a clear business purpose, what counts as “ordinary” in your industry, and how to prove an expense is necessary for generating income. You’ll hear examples of meals, travel, home use, and even family involvement that can become legitimate business write-offs with proper documentation. These simple tax planning strategies can help you reduce taxable income and keep more of your hard-earned money—legally.


 


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