Business Expenses or Personal Expense


Business Expenses

(Corporation) Business Personal

Auto - For any auto used for business

Charitable Contributions

Keep mileage records

Gas, Repair, payments, Insurance

Up to limits

We make an ajustment at year end for

personal share

Medical Expenses Doctors, RX, Chirpractors, Dentist Elective surgery is a Personal Expense

Medical Insurance Business Medishare is personal

Retirment Accounts

Business (usually)


Cell phone and internet are business

Gas, electric, garbage, water, sewer

are personal


Not allowed as a corporation - money transferred

from business to personal is payroll or a Dividend,

must go through bookkeeing


Only deductible if you have receipts and turn in a

report showing how the funds were used for business



For yourself, clients and business associates when

traveling for business

Spouses travel only if for business purposes

Children and Nanny are personal

Spouse is personal if they aren't

involved in the business

Travel for entertainment or personal

vacation are personal

Cruises are personal unless all ports of

call are in the US and specific business

is the reason for the cruise

Travel outside of the US is personal

except in rare cases and the criteria is


Local Meals

Travel Meals


Must be for business purpose and records must be

kept - who, agenda, reason for meeting

Must be far enough away that it requires sleep before

returning home

Yourself, client, spouse if for business purpose

If entertaining guests, records should be kept

If meeting clients, business associates

Treat the same as meals, keep records

Meal with spouse and or children

If meals out of town are for

entertaining people that are non

clients or business associates, it is


Even if you go to Starbucks to work ot

os still personal unless you areout of



All personal, there is no deduction for

entertainment - that includes concerts,

ball games, the Zoo, the fair, etc.

Gifts Limited to $25 per person Over $25 is personal

Business equipment, supplies and fees

If used for business it is a business expense


While traveling

While at home - even if it is your


Personal Care - hair, nails, spa, makeup


All personal

All personal, even the dress you need

for convention

Taxes Is it busines Or is it personal

House Payments, Insurance and Property Tax


Childrens and Pets Expenses


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