EP361: How to Write Off Date Night on Your Taxes
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Can date night serve as a legitimate business expense? In our experience: yes, but only under very specific protocol. If you want to write off a date night on your taxes, you must be organized and able to prove how a date night benefited your business.
On today’s show, Natali and I are sitting down to discuss how to write off your date nights on your taxes. We’ll explain how to determine if an expense is legitimate, as well as how to prove it to the IRS. We’ll also share specific tools and tips you can use to document your expenses. Don’t miss this episode of Investing in Real Estate!
On this episode you’ll learn:
- What types of purchases can and cannot qualify as a business expense.
- How to determine if a purchase is a legitimate expense.
- Whether or not you can take cash out of an ATM for a business purpose.
- How expenses can lower your overall taxation.
- Why you should track your expenses and keep your receipts.
- How to differentiate business mileage from personal mileage.
- How do you avoid comingling.
- And much more!
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