It used to be common practice to lump together things like taking a client to a baseball game and treating them to dinner as “meals and entertainment” expense.
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For many companies, January is a mad dash of closing the prior year-end, making fourth quarter estimated tax payments, and sending out W-2s and 1099 forms.
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It’s almost the end of the year, so business owners are looking at their financial statements for ways to increase their compensation without hurting the business or getting into tax trouble.
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