MKS&H Articles

Deductible Expenses are "Reasonable" on case by case basis

[fa icon="calendar'] Mar 23, 2016 11:59:34 AM / by admin posted in tax deductions, tax deduction, accounting, Deductible Expenses, business, tax, capital, Tax Savings

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To be deductible expenses, a business expense must be ordinary, necessary and reasonable in amount. The part of that three-pronged test that seems to give taxpayers the biggest problem is the reasonable amount.

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Handling Interest on Loans to Inject Capital in your Business

[fa icon="calendar'] Nov 23, 2015 2:53:37 PM / by admin posted in tax deductions, tax deduction, accounting, business, tax, Entrepreneur, Strategy, capital, Tax Savings

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There are instances when you can write off interest on personal loans used for business purposes, such as injecting capital into an S corporation, multi-member LLC, partnership or C corporation. But keep in mind that interest expenses must be classified into one of four categories (see box at the bottom of this article for details).

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5 Things To Do As a CFO When Back From Your Vacation

[fa icon="calendar'] Jul 6, 2015 11:19:57 AM / by admin posted in budget, Audit and Accounting, accounting, finance, cfo, business, Strategy, capital

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Getting back into work can be challenging when returning from a well-earned vacation. Now that you’ve rested and feel reinvigorated, this is an opportunity to reevaluate aspects of your company’s financial environment and move forward productively. Here are 5 areas to focus on to get back in the swing of things:

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