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Income & Expenses
- How do you distinguish between a business and a hobby?
- I am a sole proprietor and pay personal expenses out of my business bank account. Should I include the money used for personal expenses as part of my business income? Can I write these expenses off?
- For business travel, are there limits on the amounts deductible for meals?
- Where can I find the per diem rates for foreign countries?
- I use my home for business. Can I deduct the expenses?
- If I lease a vehicle, can I deduct the cost of the lease payments plus the standard mileage rate?
- Are excise taxes for a vehicle deductible?
- If you lease-purchase a piece of equipment for use in a trade or business, like a forklift or truck, do you deduct the lease payments or do you depreciate the cost of the equipment?
- Are business gifts deductible?