Business Expenses Archives - Page 16 of 19 - FREE Yourself from IRS Problems

Shamsey Oloko February 24, 2016 Business Expense, Business Expenses, Deductions, Expenses Deductions, Ordinary and Necessary Expenses, Taxable Income 0

Who qualifies as a real estate professional for tax purposes?

Issue Who qualifies as a real estate professional for tax purposes? More specifically, how does a taxpayer establish that he or she materially participate in rental activities, so that the rentals become non-passive, and any losses can be used without…

Shamsey Oloko January 8, 2016 Business Expense, Business Expenses, Deductions, Ordinary and Necessary Expenses, Travel Expenses 0

DEDUCTING TRAVEL EXPENSES RELATED TO YOUR JOB

Everyone at one time or another has wondered about deducting their work-related expenses from their income in order to pay lower taxes. Especially those expenses related to travel, whether these trips and excursions are to and from work or out-of-town.…

Shamsey Oloko March 11, 2015 Audit, Business Expenses, Civil Liabilities, Civil Penalties, Deductions, News 0

How Should You Respond to a Notice of a Tax Audit?

There are few things as disconcerting as receiving the notice that the IRS will be conducting a tax audit on your return. Such a notice can be very upsetting and understandably so when it is totally unexpected. However, instead of…