Today TaxMama hears from Pam in the TaxQuips Forum, with a good question. “1 purchased 1 new vehicle in 2010 that is used for both of my businesses (Sch C). How do I allocate the new vehicle Sec 179 deprecation expense to both businesses?”
Tag Archives: Depreciation
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TaxMama’s Tax Roundtable – March 2011 Session
March 17, 2011 TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and above, and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. REPLAY today’s session below – you can listen and SEE the session and forms.
Today TaxMama hears from Leslie in the TaxQuips Forum, who is quite clever.buy acyclovir online gilbertroaddental.com/wp-content/languages/new/generic/acyclovir.html no prescription “I am helping a friend out with her business. She currently takes a deduction for having a home office for the company that she runs out of her home. Would it benefit her more to charge the […]
Today TaxMama hears from Michael in the TaxQuips Forum who wants clarification. “I drive a lot. Is there a maximum dollar amount I may deduct for my vehicle expenses?”
Today TaxMama hears from Jared in the TaxQuips Forum,who is confused. “What are the guidelines for writing off a new commercial van? I need a big deduction. Can I write off the whole thing?https://www.epsa-online.org/wp-content/languages/new/levaquin.html I have been to many sites – and even the IRS site is different.buy augmentin online drugeriemarket.co.uk/wp-content/languages/new/britain/augmentin.html no prescription I thought […]
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?”
Today TaxMama hears from Alissa in the TaxQuips Forum. She wants to know, “The mortgage on my rental property is $1,500 (including tax, insurance, & a 2nd). But I only charge $1,200/month for rent because that is the going rate in the neighborhood. Do I still report the $1,200 as rental income even though it […]
New Jobs Act brings tax benefits (9-23-2010) On September 23, the House passed the Small Business Jobs Act of 2010 (H.R. 5297). It is expected to be signed by the President. Among its provisions:
Today TaxMama hears from Rob in the TaxQuips Forum, who couldn’t get IRS to answer him. “I am adjusting a 2006 return using the 3115 Form per your guidance. The Real estate is 1974 property where we used ACRS, 125% and 20 years. For the step-up do I have to use MACRS lives and methods?”
Today TaxMama hears from Alex in the TaxQuips Forum, with this issue. “I am the worship leader at my church and am currently paid a salary of $6,000 a year without taxes taken out. I also just recently took on a short term job in which I was hired as an independent contractor to do […]
Today TaxMama hears from Keith in the TaxQuips Forum, with an interesting question.buy antabuse online blackmenheal.org/wp-content/languages/new/us/antabuse.html no prescription “There’s no office space near me, so I want to buy a boat as the office for my C Corp. I could easily maintain a log for any recreational use to facilitate separating business and personal use.” […]
Dear [firstname], Let’s start with a quick reminder – if you want to take a deduction for contributions to Haiti on your 2009 tax return, you must make your contribution by February 28th. Speaking of February 28th, that is also the last day to take the 2009 EA Exam. Those of you planning to sit for […]