Tax Law (Questions About Taxes)/Green Card Renew Fee

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Question
Hi Richard,

I an a S-Corp owner. Can I deduct my Green Card renewal fee in my business tax return since I need to maintain my residence status in order to work in US?

Thank,
Yan

Answer
That depends.

1. It could depend on if you accept the answer's answer is final and true.
2. It could depend on your conviction. You might claim it but when questioned you might give up and say it was wrong.
3. It could depend on who you ask.

But really it only depends on whether or not you believe and are committed to maintaining that it is a "reasonable and necessary" business expense for the S-Corp.


Do you believe it is a reasonable and necessary business expense? Will you document the justifications for it. Will you fight to be right if questioned?

No deduction is assured to anyone that is not willing to fight to take it.

Tax Law (Questions About Taxes)

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Richard Fritzler

Expertise

Specializing in Business and Corporate taxation. Comparing the advantages and requirements of different business entities, such as Sub-S Corporations, LLC`s, Partnerships (Both Limited and General), Doing Business as a Sole Proprietor, or Using a C-Corporation. Issues regarding K-1 distributions, 1040, schedule C, 1120, 1120s. Are you considering domiciling a Corporation in a low tax state? I can review the benefits and misinformation that exists.

Experience

I have been in the business of assisting business owners in reducing their taxes and liability since 1986.

Organizations
National Small Business Owners Association.
Publications
Contributing author to "The Corporate Standard Newsletter".


Publications
Contributing author to "The Corporate Standard Newsletter".
Ezinearticles.com articlesbase.com

Education/Credentials
I have been in the business of assisting business owners in reducing their taxes and liability since 1986.

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