Not asking for tax advice: as a small bsuiness owners, how common is it that business owners put personal expenses like travel and meals under business expenses to lower taxable income? Is this a common practice?

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Small business owners running personal expenses through the business is extremely common

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Every single LMM / MM deal I’ve ever seen has had personal expenses run through the business.

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How often do small business owners commit tax fraud?

You’d be shocked. Spouses vehicles, personal travel, kids schools

Little bit of both.

Less than 10% of returns get audited each year.

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