Tag Archives: business purpose
As an employee of another company or business, you may qualify to deduct any expenses you paid out of pocket. Generally, you will have to itemize your deductions using a Schedule A, Itemized Deductions in order to claim allowable expenses. Follow these five tips to maximize your deduction and avoid delays in processing your return: […]
— Read moreIf your job or business requires you to use your own personal car, you may be able to deduct the entire operation costs up to certain limits. If the car is used for both business and personal use, however, you can only deduct costs relating to the business use. Generally, the amount of deduction is […]
— Read moreUsing your personal car for business reasons can lead to a deduction come tax time. You may qualify to deduct the actual operating expenses or you can opt to take the standard mileage rate of deduction. Remember though, you can’t deduct expenses you incur while commuting back and forth to work. You may also be […]
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