CHAPTER 14: Additional Deductions

Fishman, Stephen
November 2013
Deduct It!;Nov2013, p377
The article discusses the Internal Revenue Service (IRS) ruling that allows additional tax deductions on the operating expenses of small businesses. It refers to costs incurred by businesses from advertising, insurance, and legal fees provided the cost are ordinary, necessary, and reasonable. The IRS also allows deductions on expenses for charitable contributions, casualty losses, and business bad debts.


Related Articles

  • Tackling your small-business taxes. Weale, Ross // Fairfield County Business Journal;1/24/2011, Vol. 47 Issue 4, p9 

    The article discusses the taxes of small businesses where businesspeople complain about the complexities of the U. S. Internal Revenue Service's (IRS') rules, however, the IRS has now improved with its new website that offers entrepreneurs a tax smarts adjustments.

  • IRS Updates Automobile Depreciation Deduction Limits for 2015. Cohn, Michael // Accountingtoday.com;2/08/2015, p8 

    The article announces the release of a revenue procedure by the U.S. Internal Revenue Service (IRS) which provides the depreciation deduction limitations for owners of passenger automobiles that were initially placed in service or leased for the calendar year 2015.

  • CHAPTER 9: Business Travel. Fishman, Stephen // Deduct It!;Nov2013, p227 

    The article discusses the Internal Revenue Service (IRS) ruling that allows tax deductions on business travels inclusive of airfares, overnight accommodations from hotels, and other travel-related expenses. It suggests that taxpayers claiming for business travel deductions must understand the...

  • CHAPTER 11: Hiring Workers. Fishman, Stephen // Deduct It!;Nov2013, p277 

    The article discusses the Internal Revenue Service (IRS) ruling that allows tax deductions on businesses that hire workers as employees or independent contractors. It suggests that companies claiming for employment-related tax deductions must understand the difference in the covering tax rules...

  • How to Offset Taxes on International Stock Dividends. Korn, Donald Jay // Accountingtoday.com;9/19/2014, p5 

    The article discusses an article which originally appeared in "Financial Planning," citing the available options that can be done to offset the huge tax bills associated with international stocks and funds including taking an itemized deduction, taking a foreign tax credit on Form 1040, and...

  • Chapter 18: Help Beyond This Book. Fishman, Stephen // Home Business Tax Deductions;2014, p415 

    Chapter 18 of the book "Home Business Tax Deductions" by Stephen Fishman is presented. It provides the secondary sources of tax information and tax law including from the Internal Revenue Service (IRS) in the U.S. online tax resources, and court cases. Also noted are IRS regulations, rulings,...

  • Do Your Kids Watch TV in Your Home Office? WANDREI, SEAN // BusinessWest;11/17/2014, Vol. 31 Issue 16, p23 

    The article clarifies some issues related to home office taxation. Topics discussed include deductions allowed for home offices under the tax law, expenses associated with the use of certain space of the house for home office, issues on exclusivity of use of the space, and categories of relevant...

  • Lock up 7 fleeting tax breaks.  // Small Business Tax Strategies;Oct2013, Vol. 8 Issue 10, p1 

    The article presents key tax breaks for small businesses in the U.S. in 2013. It mentions that the business can deduct qualified assets of up to $500,000 placed in service under the American Taxpayer Relief Act of 2012 (ATRA). It states that the current version of bonus depreciation permits a...

  • Tangible Property Regs: Reconsidering Small Taxpayer Relief. So Sum Lee; Pazzia, Gian; Bagne, Alex // Accountingtoday.com;9/4/2015, p6 

    The article presents information on the new regulations on tangible property of the U.S. Internal Revenue Service (IRS). Topics include the regulations' aim to relieve small business taxpayers from the filing of the mandatory Form 3115, the risks of the adoption of Revenue Procedure 2015-20, and...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics