Tag Archives: travel expenses

Renting to LLC

Today TaxMama® hears from RJ in the TaxQuips Forum, with a travel question. “I am a single member LLC. I have a long-term (3 year) out-of-state contract, which requires me to be physically onsite at the client’s location 75% of the time (3 weeks per month). I am currently renting an apartment and deducting the […]

Using Per Diems

Today TaxMama® hears from Raj in the TaxQuips Forum, with a common issue. Let me summarize. (You can read the discussion here ) His tax return is being audited and the IRS auditor wants copies of receipts for his hotel stays for all his travel. But he used the IRS per diem rates, so he […]

Expanded Adoption Tax Credit Still Available for Extension Filers

Courtesy of the Internal Revenue Service If you adopted a child last year and requested an extension of time to file your 2011 taxes, you may be able to claim the expanded adoption credit on your federal tax return. The Affordable Care Act temporarily increased the amount of the credit and made it refundable, which […]

Job Search Expenses Can be Tax Deductible

Courtesy of the Internal Revenue Serivce [TaxMama note: For the most part, if you cannot itemize your deductions, you’ll have a hard time using these.] Summertime is the season that often leads to major life decisions, such as buying a home, moving or a job change. If you are looking for a new job that […]

Employee Business Expenses

Courtesy of the IRS Some employees may be able to deduct certain work-related expenses. The following facts from the IRS can help you determine which expenses are deductible as an employee business expense. You must be itemizing deductions on IRS Schedule A to qualify. Expenses that qualify for an itemized deduction generally include: 

Missing Hotel Receipts

Today TaxMama® hears from Tim in the TaxQuips Forum with this question. “A relative was sent by his company to work far away from home in different places for weeks at a time. He was given a nonaccountable per diem that was included in Box 1 of his W-2. He did not save the hotel […]

Residence or Travel

Today TaxMama hears from Susan in the TaxQuips Forum, with this issue. “We have a rental property that we want to re-establish residency in for the 2 year period without selling our current home we live in. I have to go back to work near the rental property so it is my plan to stay […]

Ask TaxMama Issue 610 – Keep Your Fork

Dear Family, The week just seems to fly by when you have interesting and exciting things to do. And we definitely have those around here!   We’ve been working with the folks at NASBA to arrange for continuing education credit for CPAs who take TaxMama’s® courses and the SFV Breakfast roundtable. It takes a lot of […]

Commuting Reimbursement

Today TaxMama hears from John in the TaxQuips Forum, who just got a promotion. “ I get a monthly salary as well as a $400 travel allowance.  I live across the border in another state and have a 60 mile round trip as well as tolls.  My employer thought it would be good to write me […]

5th Wheel

Today TaxMama hears from Brad in Jacksonville, NC  , who says, “I’ve been considering purchasing a (self-contained) motorhome/fifth wheel RV for use as lodging/office to use on my business travels. Can I write it off?”