Your travel, meals and autos: get deductions, stay out of trouble
Article Abstract:
The US Internal Revenue Service rules demand that itemised monthly details of business expenses are kept. Employees on a flat-rate expense allowance must have all detail entered on their W-2 form. Only 80% of a business meal is tax deductible. Goodwill meals are not tax-exempt. Travel expenses can be tax deducted on a daily flat-rate basis or itemised. The flat-rate method involves less accounting. The daily rate is $66. Employees who use their private cars for business purposes can claim 28 cents per mile plus parking fees and tolls. A mileage log needs to be maintained.
Publication Name: The Business Owner
Subject: Business, general
ISSN: 0190-4914
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Executive life insurance offers many benefits
Article Abstract:
Employment benefits usually include life insurance coverage. Employers, however, should be informed about an alternative scheme of providing coverage known as split-dollar insurance. This method is particularly appropriate for executives who usually have substantial coverage. The split-dollar insurance is a cash-value life insurance policy that requires two parties to pay the premium through the endorsement method or the collateral assignment method.
Publication Name: The Business Owner
Subject: Business, general
ISSN: 0190-4914
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Why buy key-executive insurance and how much?
Article Abstract:
It is advisable for business owners to purchase key-executive insurance to protect the business from being affected in case a key-executive dies. Reasons for purchasing key-executive insurance include the possibility of offsetting future loss in revenue from a person's death and protection of the company's operating capital and cash flow as the company is looking for a successor. The amount of insurance may be arrived at using three techniques.
Publication Name: The Business Owner
Subject: Business, general
ISSN: 0190-4914
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A son's return triggers fears. How to get along with family co-workers
- Abstracts: Is your home-office deduction secure? Distribution by design
- Abstracts: Project management software: usage patterns and suggested research directions for future developments. Project characteristics that influence the implementation of project management techniques: a survey
- Abstracts: Lloyd's restructuring announced. Currency devaluations announced
- Abstracts: World heads of state and government leaders. part 2