Section 179 & Residential Rentals
A frequent question asked by tax professionals is whether home furnishings such as washers, dryers, refrigerators, microwaves and the lik...
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The Tax Professionals Blog · 446 articles
First-Time Homebuyer Exception
Individuals wanting to purchase a home frequently look to their IRA accounts as a source for the down payment. Although tapping one’s ret...
Read moreDeducting Partner Expenses
A frequent question that arises is how to handle the deductible business expenses of individuals in a partnership. Generally, the partner...
Read moreAre Work Clothes and Uniforms Deductible?
The costs of purchasing and upkeep of work clothing are deductible if the following two requirements are met.
Read moreUsing a Traditional IRA as an Income Diversion Tool
Making a deductible Traditional IRA contribution in one year and then converting it to a Roth IRA in the next year has the effect of movi...
Read moreDeducting Local (Within Tax Home) Lodging
IRS regulations permit certain non-away-from-home lodging expenses to be treated as deductible business expenses by the employer and tax-...
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