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Travel, cars, interest, bad debts and the home office

SEE 2 Chapter 15 · IRS outline 2B4, 2B5, 2B6, 2B7, 2B15, 2E3

It's receipt season at Lantern Street Tax. Daniel drives his van and claims every mile. Walt took a client to a ball game and to dinner after. Mira works from a corner of her kitchen. A customer of Pine Street Bakery went bust, owing $6,000. And Copperline borrowed money at a rate that turned Theo's calculator hot. These are the deductions where the rule is simple, and the paperwork decides.

In this chapter

1. Business travel
2. Meals, entertainment and gifts
3. Vehicle use and expenses
4. Business interest and section 163(j)
5. Business bad debts
6. The home office
7. Recordkeeping and accountable plans

This chapter has 7 lessons and 60 practice MCQs with explanations, plus flashcards and a recall sheet.

What this chapter covers

• Travel and per diem
• meals and gifts
• vehicles
• section 163(j)
• business bad debts
• home office
• mileage logs and accountable plans

Chapter 14: Depreciation, section 179, bonus and amortization · Chapter 16: The qualified business income deduction