Joe Kristan from the Tax Update Blog has an article at IowaBiz.com about the rules surrounding the home-office deduction. You can find the article here.
An accountant from Florida lost a Tax Court case Wednesday in which he tried to defend the $18,000 of “wages” paid to his daughters. The accountant has deducted the $18,000 as “cost of goods sold” on his business Schedule C in 2007. The IRS disallowed the deduction and the case went to Tax Court. From the […]
A question that comes up frequently from people with home-based businesses is if they can deduct mileage driven from their home to a work site. The answer can be tricky. IRS publications say that you can deduct mileage driven from your home to work sites if your home is your principal place of business. But […]