Jaden Daniels Shares Some Information About Filing Taxes

http://www.jadendaniels.com | jaden@jadendaniels.com |

I watched a video series in my back office of iLearning Global by Sandy Botkin. He was teaching about taxes. He said that you can write off 50% of your business dinners. I was told years ago that you couldn't.

I learned that if you and your other half take a couple out and talk about your primary business, no matter if it is iLearning Global, Send Out Cards, HealthyShores, CarbonCopyPro, or any of them, you can take 50% of all 4 meals off your taxes.

Now, if you take a couple out without your other half and talk business, you can only take 50% of 2 meals.

That being said, I learned you do not have to have a receipt when your meals are under $75, but you need to have a good tax dairy.

No matter what kind of home based business you are in you need to have a tax dairy. In that dairy, you need to keep up with all of your entertainment. Since I am only talking about business dinners, I will explain how to put the information in your dairy.

You need to answer who, where, when, why and how much for all business dinners. So if you and your wife went out with let say the Johnsons. It will look something like this:
Who: Mr. And Mrs Jack Johnson
When: January 8, 2009
Where: Ruby Tuesday, Florence, SC
Why: iLearning Global, and asked for referrals. They gave no referrals.
How Much: $64.32 for all 4
That is all you need to satisfy the IRS. If it is over $75 make sure you keep a receipt.

If you havent yet, make sure you get an tax dairy, and make sure you write in it within 24 hours of your dinner.

Like I said in all my videos, if you want to conquer the internet in 2010, you need to join my team. We will show you how to utilize the power of total syndication.

Jaden Daniels
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