And who would know if not the almighty IRS? So, let us visit www.IRS.gov and download the official Publication 535 conveniently titled Business Expenses. There, on page 3, we receive the much-appreciated legal guidance: To be deductible, a business expense must be both ordinary and necessary. If this is not clear enough, the ever-helpful IRS goes an extra mile to …
In your dreams, buddy! Now, please, before you write me a nasty email, let me explain. I’m not being rude with you, and I’m not trying to rob you. My opening words simply reflect the attitude of the IRS. Part of this attitude comes from the tax law as written by Congress. The other part …
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