Car, Travel & Entertainment and Home Office Deductions CPE Course

by CCH Tax Law Editors, John Roth (Editor), Susan Haldiman (Editor)

Almost all business taxpayers, from the small sole proprietorship to the largest international corporation, incur business expenses for cars and travel and entertainment. In addition, in this era of long work hours and home-based entrepreneurs, it is estimated that more than 22 million people do some job-related work in their homes. Cars, travel and entertainment, and home office expenses are common business tax deductions. Yet, because of the complex nature of the Internal Revenue Code and ever-changing IRS regulations and rulings, taxpayers have to go to uncommon lengths to determine their maximum allowable deductions. What is a correct deduction one year may be incorrect the next year due to changes in the law or changes in how the law is interpreted. CCH's Car, Travel & Entertainment and Home Office Deductions guides the user through the ins and outs of maximizing deductions for these common business expenses. In addition to detailed, clear explanations and practical examples of how the tax law is applied, this resource supplies the user with the following helpful and necessary * Depreciation tables for electric and conventionally powered cars * Tables for determining what amount to include in income when a car is leased * Filled-in Form 2106 illustrating employee business deductions * Filled-in Form 8829 illustrating the deduction for home office expenses * Worksheet for determining the maximum home office deduction * Worksheets for determining the correct taxable gain when a home that was used partially as an office is sold. NEW! New with this edition, Car, Travel & Entertainment and Home Office Deductions includes additional learning components supplementing the text to help users more fully understand and retain the information provided -- e.g., learning objectives, review questions and answers, and final exam for CPE credits (grading fee additional). In addition, this convenient volume's Appendix provides the Annual Lease Values T

312 pages, Perfect Paperback

First published January 1, 2006