Deductions and Write-Offs
The most frequently asked tax questions related to Deductions and Write-Offs
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Answer Tax QuestionsTemporary place of work
Asked Monday, November 14, 2011 by an anonymous user
The IRS considers a work location temporary is one at which the employment is realistically expected to last and actually does last for a period of 1 year or less. A worker can deduct their unreimbursed costs of driving to temporary locations.
Are travel costs deductible from my home office?
Asked Monday, November 14, 2011 by an anonymous user
If your home office is your principal place of business, you can deduct travel costs between the home office and the offices of your customers or clients.
Are there deductible commuting expenses?
Asked Monday, November 14, 2011 by an anonymous user
The IRS allows 2 exceptions. If you are on a business trip out of town you may deduct taxi fares and other transportation costs from your hotel to your first business call and all other transportation costs between business calls. Also the additional costs of transporting tools to work are deductible.
What are the per diem rates for travel outside the US?
Asked Monday, November 14, 2011 by an anonymous user
Different rates apply for travel in Alaska, Hawaii, Puerto Rico, and US Possessions and foreign countries. Go to www.gsa.goc to get rates.
Are my business travel expenses for the cruise ship deductible?
Asked Monday, November 14, 2011 by an anonymous user
If you travel by cruise ship for business the deductible cruise ship costs are limited to 2x the highest federal per diem rate for travel in the US. go to www.gsa.gov and click on per diem rates.
Can I claim a child tax credit for my grandchild that lives with me that I claim as a dependent ?
Asked Wednesday, January 17, 2001 by an anonymous user
A qualifying child for the child tax credit must be a grandchild, son or daughter, adopted child or eligible foster child. That child must live with you and you claim her as a dependent and she is under age 17 at the end of the year and a citizen or resident of the US. If so, then you can claim her as a qualifying child for the child tax credit.
My daughter turned 19 in December, Can I use her for the child tax credit calculation ?
Asked Wednesday, January 17, 2001 by an anonymous user
No. She is not a qualifying child for the child tax credit because she was not under age 19 as of the end of the year.
What are the tax court guidelines for determining if a convention trip is business or personal ?
Asked Tuesday, January 16, 2001 by an anonymous user
Generally, the tax court guidelines for determining if a trip is business or personal is (a) The primary purpose of the trip is business related, (b) the amount of time spent on personal activity compared with the amount of time spent on the business activity, (c) the location of the convention.
What is the amount that receipts for business transportation and entertainment expenses are required ?
Asked Tuesday, January 16, 2001 by an anonymous user
Generally, IRS no longer requires receipts for business transportation and entertainment unless the expense exceeds $75. A business diary with details of the time, place, person you met with and the reason for the meeting should always be maintained. Your expenses for lodging always require detailed receipts, regardless of the amount.
