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Can I claim a home office expense?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
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 seperate structure with no personal use. Exclusive use means soley for business so spare bedrooms or use of a den have been challenged by the IRS.
Can I claim a home office expense?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
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 userCPA Answer:
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 userCPA Answer:
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 userCPA Answer:
No. In general, costs of commuting between your home and workplace are not deductible. Costs for gas for
Is the costs of me driving to work deductible?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
No. In general, costs of commuting between your home and workplace are not deductible. Costs for gas for
Is the costs of me driving to work deductible?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
No. In general, costs of commuting between your home and workplace are not deductible. Costs for gas for your car, train, bus, tolls and parking fees are not deductible.
What is the IRS publication that explains auto expenses?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
IRS publication 4636 deals with Travel, Entertainment and Car Expenses.
Publication - auto expenses
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
IRS publication 463 deals with Travel, Entertainment and Car Expenses.
Sole Proprietorship - Schedule C
Web site available to help small businesses
Asked Friday, November 18, 2011 by an anonymous userCPA Answer:
Yes. The IRS has developed a web site to help small business and self-employed persons at www.irs.gov/businesses/small/index.html.