Many people are looking to earn extra money by renting out a room in their homes. When it comes to taxes, this is both good news and bad news.The good news is that your rental income...
Posted by Pat Raskob on 05/27/2022
Using a section of your home for business makes you qualify for some deductions, which Uncle Sam calls the "business use of your home." As long as one meets all the requirements,...
Posted by Income Taxes and Bookkeeping LLC on 01/05/2021
A designated third party is someone with whom you authorize the IRS to discuss your tax return. Although this authorization is rare, the IRS describes its purpose in "Section...
Posted by BEST FINANCIAL GROUP LTD on 10/31/2019
Are you afraid to take a home office deduction because you’re worried it might trigger an audit? This fear is common among small businesses. But there’s really no need...
Posted by Flynn Financial Group Inc on 06/22/2020
Tax season is daunting for every person, but entrepreneurs and small business have to pay attention to deductions and benefits. There are different business strategies and structures...
One of the joys of working from home, aside from the casual attire, is the time during tax season when you get to claim your home office. Being able to deduct your workspace...
Posted by W.E.D. TAX & ACCOUNTING S on 01/27/2016
