One of the basic truths for any taxpayer wanting to claim a deduction for business use of the home is, the office area must be used 100% for business purposes. And 100% business use means 100%. But is that really always true?
Taxation of emotional distress payments can be tricky. In general, the settlement money is taxable … but not always.
Does the 5th Amendment Protect You During an Audit? In one word: NO.
The U.S. Tax Court says a vacant house can sometimes still qualify as a rental property.