Employee Business Expenses

Income Tax—Employee Business Expenses: The costs of commuting between a person’s residence and place of business are generally nondeductible personal expenses, regardless of the distances involved. In this case, taxpayer traveled to five temporary worksites...

Do you breed cats for an income?

Cattery’s Business Expenses: While taxpayer’s principal source of income came from her wholly-owned corporation’s information technology consulting business, she also operated a “cattery” through the corporation to breed, show, and sell...

Tax rules apply to family loans!

There are many worthwhile reasons to lend money to a relative. For example, you may want to help a child or sibling continue their education or start their own business. But lending money to relatives can have tax consequences. The IRS requires that a minimum rate of...
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