Albuquerque Business Podcast

What if I say, the Congress is working for us (the business owners) to avail this once in a lifetime opportunity? Hard to believe right? But it’s true…  – Allow Businesses Deduct Personal Costs – through Disaster relief Act PAY ATTENTION - this can bring additional $15k-$50k of deductions (CASH) in your business, TAX FREE. There is a way to deduct assistance payments made to “Individuals” for expenses related to nationally declared disasters Any amount paid to or for the benefit of an “Individual” Other “Individuals” can be beneficiary of this Program. Those “individuals” can be you, your family member, your employees, or your neighbors, etc. Qualified Disaster Relief payment allows the business to pay any amount to or for the benefit of an “individual” – To reimburse or pay reasonable and necessary personal, family, living, or funeral expenses incurred as a result of a qualified disaster, To reimburse or pay reasonable and necessary expenses incurred for the repair or rehabilitation of a personal residenc