Home Office, Bonus Depreciation & Sec 179 Considerations
Where a taxpayer’s Schedule C is negative or close to negative, there are issues that should be considered when claiming the home office,...
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The Tax Professionals Blog · 446 articles
Home Sale Exclusion – Unforeseen Circumstances
A reduced exclusion applies to any sale or exchange if a taxpayer doesn’t meet the ownership, use or once-every-two-years requirements du...
Read moreTiming the Moving Deduction
Taxpayers who move because of a change of work location may deduct certain related expenses. The moving expense deduction is available f...
Read moreStandard Mileage Rate for Motorcycles & Leased Vehicles
Two questions frequently raised are: is the standard mileage rate allowed for motorcycles? Can the standard mileage rate be used for leas...
Read moreGambling Winnings May Impact Health Insurance Costs
Gambling winnings, even if there’s a net loss for the year, and game show winnings can increase the cost of health insurance premiums for...
Read moreDeducting IRA Losses
A question that frequently arises is “can IRA losses be deducted?” The answer to that question is yes, but only under certain very limite...
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