{"id":138,"date":"2015-08-18T16:59:09","date_gmt":"2015-08-18T16:59:09","guid":{"rendered":"http:\/\/belbolcpa.com\/blog\/?p=138"},"modified":"2015-08-18T17:01:37","modified_gmt":"2015-08-18T17:01:37","slug":"but-its-tax-deductible","status":"publish","type":"post","link":"https:\/\/belbolcpa.com\/blog\/but-its-tax-deductible\/","title":{"rendered":"But It\u2019s Tax Deductible!"},"content":{"rendered":"<p>Paying mortgage interest, property taxes, equity loan interest, and business expenses are all generally <a href=\"http:\/\/www.njmedicalcpa.com\/healthcare-tax.htm\" target=\"_blank\">tax deductible<\/a>. But does it make sense to incur excessive expenses just to produce a <a href=\"http:\/\/www.njtaxsolutions.com\/back-taxes.htm\" target=\"_blank\">tax<\/a> benefit?<\/p>\n<p>For example, if you are looking to move to a bigger house, you will save a lot of money in taxes, right? Yes, you may actually save income taxes, but at the same time you will have spent much more money. Spending a dollar to save a quarter doesn\u2019t make much sense at all.<\/p>\n<p>Just because qualified business meals and entertainment may be deductible (generally only 50% deductible), it may not make sense to spend excessively. I have seen some business owners spend so much on meals that they could have used this money to hire an assistant so they can work less. Now, that\u2019s real savings!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paying mortgage interest, property taxes, equity loan interest, and business expenses are all generally tax deductible. But does it make sense to incur excessive expenses just to produce a tax benefit? For example, if you are looking to move to a bigger house, you will save a lot of money in taxes, right? Yes, you [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[2,3,90,7,8,18],"tags":[93,24,29,54,55],"class_list":{"0":"post-138","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-budgeting","7":"category-business","8":"category-debt","9":"category-expenses","10":"category-financial","11":"category-taxes","12":"tag-business-expenses","13":"tag-deductions","14":"tag-expenses","15":"tag-tax-planning","16":"tag-taxes","17":"entry"},"_links":{"self":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/comments?post=138"}],"version-history":[{"count":3,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/138\/revisions"}],"predecessor-version":[{"id":141,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/138\/revisions\/141"}],"wp:attachment":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/media?parent=138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/categories?post=138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/tags?post=138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}