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Old 12-28-2002, 05:13 PM
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rodfather rodfather is offline
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Join Date: Aug 2001
Location: Clinton, NJ
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Quote:
Originally posted by dhicks
The answer is subjective to the size of the company claiming business expenses. The ratio of expenses should be inline with profits, or profit potential. In other words, I would not claim more than I spent in expenses. Also, at what point is your expenses going to wave a red flag at the IRS?
Good point...not so important as how much in expenses, but the type as well. Dollar amount isn't always alarms the IRS.
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