What are the business travel federal income tax rules ?

Consider this story (if you’re not a LOST fan, bear with me–don’t worry, there’s no LOST spoiler here!): 

Hurley was the owner of Mr. Cluck’s Fried Chicken.  His business was exploring the possibility of expanding to Australia, so Hurley boarded Oceanic Flight 815 and went to Australia for 3 weeks to meet a potential investor.  While there, Hurley spent 2 weeks sight-seeing and partying.  He spend only one week there meeting with clients. 

 Hurley also brought his employee, Charlie, with him, but paid half of Charlie’s plane ticket, since he couldn’t get any discount travel deals.  Charlie only came for the business meeting and did not spend any personal time in Australia.    Read more... (471 words, 1 image, estimated 1:53 mins reading time)

So, you work from the spare bedroom in your house and you’ve been deducting everything, from the phone bill to the heating bill, in your income tax calculation? 

The home office tax deduction is not that simple.  You can’t deduct everything. 

Although there are many financial writers who claim that the home office tax deduction is a perfectly good way to save on your income tax calculation, I beg to differ.

I have heard very important tax professionals tell me, in person, that the home office tax deduction was essentially sealing the taxpayers fate– to an audit.  Read more... (389 words, 1 image, estimated 1:33 mins reading time)

Owe money to the IRS?  Did you make a mistake in your income tax calculation and now, the IRS wants to collect? Is the IRS threatening a tax lien or levy?

Here is a list of the things you need to know in order to deal with IRS Collections:  Read more... (388 words, 1 image, estimated 1:33 mins reading time)