Millennial Accounting

09/05/2026

It's like pulling teeth....

09/04/2026

Supporting children, helping aging parents, and protecting your own retirement can turn you into the family CFO. Here’s how to manage the financial overlap.

09/04/2026

Fall planning starts now. Use your late-summer sales data to make smarter inventory and marketing decisions before the holiday rush.

09/03/2026

Business expenses can reduce taxable income, but many learn too late that a deduction is only as good as the records behind it.

Protect your business deductions. See what the IRS requires for travel, meals, and vehicle mileage logs—and how to avoid 20% accuracy penalties.

09/02/2026

“But I posted it on social media” doesn’t automatically make it a business expense.

A recent U.S. Tax Court case gives us a pretty entertaining example.
The taxpayer was building a social media following and spent significant amounts attending celebrity events and meeting famous people — including nearly $9,000 to meet Benedict Cumberbatch, more than $4,000 to meet Matt Damon, and thousands more on other celebrity encounters and events.
His argument? The photos and videos generated attention on social media, increased followers and views, and therefore helped his business.

The Tax Court wasn’t convinced.

The important point was that an expense doesn’t become deductible merely because it produces some business benefit. To qualify as a business deduction, it generally needs to be an ordinary and necessary expense incurred primarily for business purposes. The court found these expenses were primarily personal experiences, and the taxpayer also had significant problems substantiating the claimed business connection.

The lesson for business owners and content creators:
You can’t turn a personal expense into a business deduction simply by posting about it, mentioning your business, or hoping it generates exposure.

Meals, travel, entertainment, clothing, events, vehicles, and other expenses with a personal component deserve particular attention. The stronger the personal benefit, the more important it is to have a legitimate business purpose and documentation supporting it.
As with most things in tax law: facts, circumstances, and documentation matter.
Sammi v. Commissioner, T.C. Memo. 2026-69

Millennial Accounting PLLC
Helping business owners understand where the line actually is — before the IRS draws it for them.

09/02/2026

Every challenge you overcome builds resilience for the next one. Keep moving forward—your perseverance is shaping your success.

09/01/2026

An executor of a decedent’s estate must administer the estate and distribute assets in the statutory order of priority; failure to follow those legal requirements can expose the executor to personal liability.

Supporting children, helping aging parents, and protecting your own retirement can turn you into the family CFO. Here’s how to manage the financial overlap.

09/01/2026

Medical expenses can add up quickly—and so can the potential tax savings. Good records today can pay off at tax time.

08/31/2026

Succession planning helps ensure a smooth transition, protects business continuity, and reduces disruption when key people leave or pass away.

08/31/2026

Worker classification at mental health practices/agencies/groups remains a tightrope to navigate.