Lodging Per Diem
Rev Proc 2011-47 & Notice 2011-81 details the rules, effective October 1, 2011, for using a per diem rate to substantiate the amount ...
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The Tax Professionals Blog · 446 articles
Home Office Income Limitations
The home office deduction is limited to the business activity’s gross income, but many people mistakenly believe that the limitation is t...
Read moreIndividual Retirement Account (IRA) & Unrelated Business Income
Generally, an IRA is exempt from tax except for unrelated business income (UBI).
Read moreWhat is the depreciable life of a rented trailer?
A trailer that includes kitchen, bathroom and sleeping facilities is rented long term to an unrelated party for use as their primary resi...
Read moreEquitable Ownership and Mortgage Deductions
You may sometimes encounter a taxpayer who is making mortgage payments on a residence even though he or she is not liable on the loan and...
Read more1099 Reporting & Rentals
Two questions to be answered on Schedule E, Part I (rental real estate and royalties section) are (A) “Did you make any payments in [tax ...
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