Tax Deductions for Business Expenses – Transportation

If you incur expenses related to your business, you may be able to deduct those expenses on your tax return. In previous articles, we touched on deductible business-related travel, entertainment, and vehicle expenses. This publication is focused on business-related transportation expenses.

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Tax Record Safeguard Tips for Hurricane Season

Hurricane season began on June 1. If you live in a coastal area or other location where a hurricane could affect your home or business, you should take a few steps to safeguard your tax and other financial records. Read on to learn more about how you can prepare to help minimize the effect of a hurricane.

Create and Safeguard a Backup Copy of Your Tax Records

Having a copy of your tax records is the most important step you can take to rebuild your tax records in the event a hurricane damages or destroys the originals. The copy can be in either electronic or hardcopy form.

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Frequently Asked Questions about Domestic Partners

There are several types of living arrangements for individuals of the opposite sex and the same sex that are not considered marriages under state law. Although these arrangements are known formally as “registered domestic partners”, they may also be called civil unions or domestic partners.

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Penalty Relief for Small Businesses Filing Returns by June 2

On June 2, 2014, the IRS began a pilot program to help small businesses who have failed to file tax returns related to certain types of retirement plans. Small businesses who take advantage of this program have until June 2, 2015, to obtain penalty relief from the normal penalties associated with failure to file.

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Tax Obligations for U.S. Citizens with Foreign Assets

When an individual who is a U.S. citizen, a holder of dual citizenship with the U.S. and another country, or a resident alien of the U.S. works or lives abroad during part of a given tax year, the individual likely needs to include activity from that time abroad on their tax return.

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