Tuesday, June 08, 2010

Mixing Business with Pleasure

Most of the time accountants are advising their clients to be careful when mixing business expenses with personal expenses. Whether it is comingling business and personal funds or paying for personal expenses with business funds mixing of business and personal is a sure fire way to get a visit from your friendly IRS auditor.

When may you ask is it ok to mix business and personal? Typically it is ok to mix the two when the expense has a valid business purpose. Take for example summer travel. If your travel is necessary to the operation of your business entity and the destination is a typical vacation spot, you will technically be mixing business with pleasure (so that’s way most my accounting conferences are in Vegas).

Below is a brief audio on mixing travel business trips with pleasure. Enjoy.

The Tech Accountant

Listen!

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