The IRS asserted that the payments should be reclassified from employee business expenses to compensation.
In such a situation, the related settlement payments may well be treated as deductible business expenses.
Obviously, you can also continue to deduct those business expenses that are unrelated to the home.
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Lawmakers may consider them employers and allow them to continue deducting health insurance costs as business expenses.
In part this is because of relatively low pay and an ultra-frugal policy on managers' business expenses.
The payments were made, and however characterized as reimbursement of employee business expenses or compensation they were allowable business expense deductions.
As Mr. Buffet correctly noted, the writeoffs companies take for capital expenditures such as jets are legitimate business expenses.
This gets reported on a Schedule C, C-EZ, or F, even if you do not have any business expenses.
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If you have big unreimbursed business expenses, consider asking for a generous expense account in lieu of a raise.
The same would hold for the trade or business expenses passed through to the Romney trusts by these investment funds.
The trade or business expenses passed through by Bain private equity funds are relatively low, in the thousands of dollars.
If you are a business taxpayer, you can deduct any legal expenses on your return that could be considered business expenses.
Business deductions for business traders and investment managers are safe because tax reform is focused on limiting itemized deductions, not business expenses.
Also, those subject to the dreaded Alternative Minimum Tax should bear in mind that most deductions--like those for employee business expenses--are disallowed.
Each month focuses on a different tax topic from Travel and Other Business Expenses in April to Tips on Wage Reporting in December.
Traditionally, ordinary workers were at a disadvantage in this game, since unreimbursed employee business expenses are harder to deduct than self-employed business expenses.
In order to deliver on this promise, the complaint alleged, Quick Sam employees fabricated business expenses, claimed improper tax credits, and reported fictitious dependents.
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Net profit margins factor in all business expenses, including the impact of increased ad spending and the hiring of additional staff for the holidays.
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The issues can indeed get thorny: Can an Australian deduct any business expenses in his home country if he and his wife live in Texas?
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Because it's a separate entity, the corporation pays taxes at the corporate rate on all income that's left after business expenses (including salaries) are paid.
You can only deduct the safe harbor expenses to the extent the income from the business exceeds business expenses that are not allocable to the home.
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As with most business expenses and charitable donations, the Maybach in question can be used as a deduction, says Andrew Blackman of the firm Shapiro Lobel LLP.
Remember only "ordinary and necessary business expenses" can be deducted.
Singapore is reinventing itself in part by cutting business expenses.
Now that we have that background established, do training, massage, and body work costs represent ordinary and necessary business expenses to someone in the business of playing NFL football?
It took one-and-a-half years for the accountants to comb through his boxes and wrap up the audit, resulting in a slight refund for business expenses he had neglected to claim.
She was in the middle of an expensive divorce and had been charging business expenses to her personal credit cards when she opened a second location of her video store.
He also proposes immediate expensing for capital investment, which means that capital costs can be deducted in the year they are incurred, like all other business expenses, rather than spread over many years under arbitrary depreciation schedules.
Chung is expected to say that much of the money went to pay for his own business expenses as well as the costs associated with entertaining the various Chinese business groups that sought to do business with him.
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