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Showing posts from February, 2017

Is Travel Deductible When It Is For Both Business and Personal Purposes?

Can you deduct your travel expenses for a trip where you combine business and personal activities? The answer of course is it depends on facts and circumstances.  It depends in part on where you travel to, how long you were there, what you did on the trip, etc. Your trip may be entirely business related or "considered entirely for business" if you pass a test for an exception.  
In many cases, you will need to figure the percentage of your trip that was for business versus personal and you may be able to deduct the business portion of your trip based on the IRS directions for the calculation of the percentage.  Then the worst-case scenario is if your trip was primarily for personal reasons and the business portion was incidental then none of your trip may be deductible.  So again, if your trip or a portion of it is deductible for business purposes depends on facts and circumstances.  
The details of the consideration of business travel expenses are included in IRS publication …

Pricing Strategy and Your Business: Harmony Between Your Goals and Your Pricing

Your Pricing Strategy What is your pricing strategy and how does it fit with your overall business strategy and goals? Pricing strategy is often driven by the owner's desires and perceptions. Most desire to make as much money as possible while providing real value. (Yes, it is true, many just desire to make as much money as possible.) Many too take into account their desired lifestyle and price accordingly. Too often though pricing is done without much thought and is driven at times by negative emotions which limit a business' potential. Really, an owner's ego can be and often really is a driving force which sometimes is good and other times it is not.

Example Let me give you an example. One business owner started a lawn care business to provide for his family and enable them to spend more time in their ministry work. To build up his business he priced his services low to get started. Once he got enough business to hire help he did not make any pricing changes. His drive …