If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. The home office deduction is available for homeowners and renters, and applies to all types of homes, from apartments to mobile […]
Tag Archives: Taxation in the United States
WASHINGTON — As part of the Treasury Department’s consumer outreach effort and with the April 15 individual tax filing deadline approaching, the Internal Revenue Service today began a concerted effort to educate taxpayers about additional options at their disposal to claim the new $8,000 first-time homebuyer credit for 2009 home purchases. For people who recently […]
Today TaxMama hears from Tom in Pasadena, CA who tells us, “I am a hair stylist and I am going to start working exclusively out of my home. I will have 2 rooms of my townhouse used solely for business. When I take the depreciation for the business use of my home do I need […]
Today TaxMama hears from Lisa in California, who tells us, “ I decided to return to nursing. I am wondering, what are my tax deductions, if any? When can I start to claim them for my re-education? Costs will include refresher classes, books, etc. licensing fees, job interview fees, mileage, physicals, labs, certifications etc?”
The Internal Revenue Service just released the 2009 update to the Allowable Living Expense Standards on March 1. The ALE standards are used to reduce subjectivity in determining what a taxpayer may claim as basic living expenses necessary to avoid undue hardship when the taxpayer must delay full payment of a delinquent tax. The standard […]
Someone brought something interesting to my attention yesterday. And he made a good point. I’ve noticed it, too, especially in the nature of questions I get from readers who’ve set up a quickie corporation. Folks who’ve incorporated, but never really got around to using the corporation seem to think they don’t have to file anything. […]
Today TaxMama hears from Cheryl in Ohio, who tells us, “ I started a doggy daycare business in Oct.buy acyclovir online blackmenheal.org/wp-content/languages/new/us/acyclovir.html no prescription 2008. I am a 50% partner (LLC). I worked at my regular job until the end of Sept. 2008. I have my W-2 form from that employer. What do I need […]
Today TaxMama hears from Susan in Montana, with this problem.buy cymbalta Canada http://healthinschools.org/wp-content/languages/new/canada/cymbalta.html no prescription buy acyclovir online https://healthcoachmichelle.com/wp-content/languages/new/acyclovir.html no prescription “The government issued us a stimulus check. But we never really got any money because the IRS used it to pay back taxes. Now, when I enter it on my tax return, it increases […]
IR-2009-18, March 5, 2009 WASHINGTON — The Internal Revenue Service is encouraging business taxpayers, associations and other interested parties to submit to the Industry Issue Resolution (IIR) Program tax issues for resolution involving a controversy, a dispute or an unnecessary burden on business taxpayers. Though submissions can be made at anytime for consideration in the […]
IRS Employees More Flexible, More Cost Effective IR-2009-19, March 5, 2009 WASHINGTON — After conducting an extensive review of the private debt collection program, including the cost effectiveness of the effort, the Internal Revenue Service will not renew its contracts with two private debt collection agencies, the agency announced today. The IRS determined that the […]
IR-2009-16, March 3, 2009 WASHINGTON — Unclaimed refunds totaling approximately $1.3 billion are awaiting over a million people who did not file a federal income tax return for 2005, the Internal Revenue Service announced today. However, to collect the money, a return for 2005 must be filed with the IRS no later than Wednesday, April […]
Today TaxMama hears from Jennifer in Alabama, who tells us, “I have never owned a home and will be purchasing one in June 2009.https://gilbertroaddental.com/wp-content/languages/new/levaquin.html My fiance did own a home within the last year. To qualify for the $8k first-time homebuyer tax credit, will I have to carry the mortgage loan myself?”