Home Office Deductions
May 2013 by Mark E. BattersbyThe Internal Revenue Service recently announced (IR-2013-5) a new, simplified option for those who use a home office, which would apply to owners of home-based mining or prospecting operations and businesses.
Making it even semi-permanent allows any business that spends heavily on equipment, machinery and other business property to reap large, up-front tax breaks.
When it comes to the expense of using a car, van, pickup or panel truck for business purposes, they can be deducted by the operation as 'transportation" expenses.
One of the most surprising jolts of the past month came with the decision of the Supreme Court upholding the legality of what has come to be known as “ObamaCare.”
There is little question that the crisis in Europe completely dominated world financial headlines last month. We saw nations such as Finland, Austria, France, Belgium and Hungary, which had previously appeared untouched by developments, suddenly become vulnerable to higher domestic interest rates.
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