Deductions and Write-Offs
The most frequently asked tax questions related to Deductions and Write-Offs
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Answer Tax QuestionsCan I choose the Mileage allowance or actual expense method every year?
Asked Monday, November 28, 2011 by an anonymous user
No. The choice of the actual expense method on the first year will bar the use of the standard mileage method ion subsequent years. If you use the standard mileage method in the first year then you can use the actual expense method in future years.
Can I claim a home office expense?
Asked Monday, November 28, 2011 by an anonymous user
To deduct home office expenses you must prove that you use the home area "exclusively" and on a "regular" basis as a place of business to meet or deal with clients, patients or customers in the normal course of your business or if you spend most of your working time there and most of your business income is attributable to your activities there. Also it must be a separate structure with no personal use. Exclusive use means solely for business so spare bedrooms or use of a den have been challenged by the IRS.
What expenses are deductable when I am away from home overnight?
Asked Monday, November 28, 2011 by an anonymous user
If you travel on business away from your home you can deduct the transportation and personal costs such as food lodging and incidentals. You must be away from home for more than a day.
What is the IRS publication that explains Travel & Entertainment expenses?
Asked Monday, November 28, 2011 by an anonymous user
The IRS publication that explains travel and entertainment expenses is Pub 463.
Is the costs of me driving to work deductible?
Asked Monday, November 28, 2011 by an anonymous user
No. In general, costs of commuting between your home and workplace are not deductible. Costs for gas for
What is the IRS publication that explains auto expenses?
Asked Monday, November 28, 2011 by an anonymous user
IRS publication 4636 deals with Travel, Entertainment and Car Expenses.
Publication - auto expenses
Asked Monday, November 28, 2011 by an anonymous user
IRS publication 463 deals with Travel, Entertainment and Car Expenses.
Artists - Car expenses
Asked Monday, November 28, 2011 by an anonymous user
If you meet certain requirements to be identified as a "Performing Artist" you can deduct all of your car expenses as a adjustment to income directly on Form 1040 instead as a itemized deduction on Schedule A. There is a 5 step requirement test that must be answered before a person is identified as a Performing artist.
Leased auto - income inclusion?
Asked Monday, November 28, 2011 by an anonymous user
If you leased a vehicle for more than 30 days and you deduct the lease charges as opposed to using the standard mileage allowance then you must add to your income a income inclusion amount which is based on a IRS table. IRS pub 463 has the lease tables.
