Starting a successful business normally involves performing research and due diligence to gain an understanding of the particular industry with an eye towards taking the proper steps to ensure that your presence in the marketplace is adequately protected from unfair competitors.
I wish that it was as easy as just filing a form with the State and you have magical tax savings and bullet-proof asset protection, but that’s simply not the case.
The reason being is that Cruise ships are difficult to deduct for valid business travel. The IRS has passed strict rules on their deductibility. Essentially, the IRS scrutinizes deductions claimed for attending a business convention where opportunities exist for vacationing.
The main purpose of this type of company is to provide a sort of ‘public awareness’ that your company is different and better than others. As such, your company will need to exemplify various practices and policies that show you are more concerned about benefiting the public through social or environmental causes than simply making profit.
By Mark J. Kohler, CPA, Attorney and Jarom Bergeson, Attorney As we all