IRS How To Deduct Miscellaneous Employee Business Expenses You may be able to deduct the following miscellaneous expenses, if they were incurred in the normal course of carrying out your responsibilities as an employee: * Business bad debt of an employee. * Business liability insurance premiums. * Damages paid to a former employer for breach of an employment contract. * Depreciation on
IRS How to Qualify for the IRS Uncollectible (Hardship) Status, if You Are Unable to Pay Your Tax Bill If you owe the IRS and are unable to settle your tax bill because you do not have the resources to do so; don’t panic, there might be a way out – the IRS could declare you “Uncollectible.” In order to be declared uncollectible by the IRS, you will have
IRS The Home Office Deduction If you use a part of your home for your business or for your employer’s business, you can claim a deduction for the business use of your home. This deduction is referred to as the home office deduction. There are some tests that you must meet to be eligible
self-employed Defining a Self-Employed Individual A self-employed taxpayer is an individual who is in business for himself or herself, and whose business is not incorporated. You are considered self-employed if the following applies to you: * You carry on a trade or business as a sole proprietor. * You are an independent contractor. * You are a member
