This should give you the lowest recorded gain. Whenever you entertain a guest for business, be sure to have a business discussion. No deduction for business entertainment is allowed unless there is a related business meeting or discussion, either before, during or just after the entertainment. The same rule applies when you take a business guest to a sporting event of show. Have a business discussion with your guest before or after the event and keep a record of it.
Slight variations occur for vehicle payments, leased or purchased.
Items used both business and pleasure must be allocated. This is not talking about IRA contributions, which is another subject. The above comments just inform you of a more complex tax return than you might have expected. Our Internet Provider is The Xensei Corporation of Quincy. Because of the information that is available, a subscription to a site on the internet can be far more valuable than any individual on-line service.