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HI ALL. There will definitely be a big problem, If the owner that you are driving for now, and he finds out that your bad mouthing him, and the possibility of him going out of business due to not paying his driver., he has only 1 way to get even, and that is if he finds out who you are you...

Hi Bubblehead, I called the IRS and they really could not tell me anything in reference to it except, it is not considered a business vehicle, So that is where we are, I really cannot tell you what to do on this, that is your call, or your tax preparer. but if your audited for it. they...

Hi, Sorry for the delay in getting back to you, but I was out of town the week after you wrote this question about depreciation. Depreciation is taken from the day that you actually put it into service and used for your business. A cargo Van is allowed the standard mileage deduction for...

Renting Your Home or Vacation Home If youown a home in a vacation locale – whether it is your primary residence or avacation home – and are considering renting it out to others, there arecomplicated tax rules referred to as the “vacation home rental rules”that you need to be aware of...

Partnership, S-Corp and TrustExtensions End September 16 ArticleHighlights September 16 is the extended due date for partnership,S-corporation, and trust tax returns. Late-filing penalty for partnerships and S-corporations is $195 times the number of partners or shareholders during any part of...