IRS has always been an adversary for taxpayers. I am a small business owner so that opens up even more possibilities for problems.
BUT, I have just discovered some very helpful information from the IRS via email. And some have saved me money.
AND, there is more than just one email. Titles include Tax Tips, Email for Small Businesses, Newswire, Guidewire, and others. I recommend that you check them out.
One item that helped me; we give gifts to different people including staff, students and affiliates (course sponsors). Gift rules are so strict; no more than $25 in gifts to any person PER YEAR. And gift cards are one hundred percent taxable.
We have given gifts to different Real Estate Associations (Kringle from my hometown of Racine, WI.). The Tax Tip said that these expenses could be considered advertising and be deducted. Thank you IRS email.
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