Tag Archives: rolls royce

Cost or FMV?

Today TaxMama® hears from CotoPop in the TaxQuips Forum with a good question. “A client purchases a high end car in January, 2010 (,000).buy canadian stromectol online cpff.ca/wp-content/languages/new/canadian/stromectol.html no prescription It is only used for personal purposes in 2010 and 2011. In January 2012 client starts a new business and uses the car 80% for […]

Limits on Millionaires

Today TaxMama hears from George in the TaxQuips Forum, with an interesting question. George asks, “Has there been any further guidance on the IRS Memo # 200911007 (dated 11/24/2008; released 3/13/2009) relative to applying the $1 million limit per property as opposed to per taxpayer with respect to mortgage interest deductions?  This become a big […]