One of the most audited areas by IRS, travel, meals and entertainment is also one of the most common tax deductions. What does it take to survive the IRS audit? What is deductible and what kind of records are needed? An overview of the types of expenses that are deductible will be discussed. In addition, tips on tracking mileage and other expenses electronically will be reviewed. An overall review of these types of deductions should be conducted annually to stay on top of changes and per diem rate updates.
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