Comments on: Send Me Your Home Business Tax Questions!

By: Denise Likens

Denise Likens — Sun, 12 Aug 2007 18:48:44 +0000

I am an independent agent for an online telecommunicating firm. I live with my son in return for watching my grandchildren. Here is my question: I nowwant to pay him for the room I use to work, but I want to check and see if it would be considered income for him. He rents this apartment himself. I feel I need this to offset my taxes. Any help would be appreicated.

Denise Likens

By: Sandy Renshaw

Sandy Renshaw — Thu, 22 Mar 2007 16:58:43 +0000

Hi Wendy,

I’m just working on my taxes, too. It’s the first year I have hired a CPA to do them. Too many things happened last year and I need advice.

BTW, love your new site design. Lots of great info here. Can’t wait to meet you in Chicago.

Sandy

By: Char

Char — Sun, 11 Mar 2007 05:45:57 +0000

Wendy – we had an accountant do our taxes for a few years – my business, a rental property, a rolled over 401k, and such made us scared. He assured me that my record keeping was sound and I paid close attention to what he did. For the past 3 years I have been using Turbo Tax to do both my business (S-corp) and personal taxes. It is time consuming, but I am happy to do it ourselves. Today’s software really does a great job of walking you through all the details.

By: Frank Roche

Frank Roche — Sat, 10 Mar 2007 23:23:51 +0000

Wendy, that’s an excellent idea. Also, have you read Tax Girl? She’s at http://taxgirl.com. Bet you two would hit it off…we all want good tax advice.

By: Alex Shalman

Alex Shalman — Sat, 10 Mar 2007 22:13:43 +0000

Ok Wendy, I’ve got a question for you. I would like for you to ask: What is the most ridiculous/ludicrous thing that someone tried to write off as a business expense and how was it handled? Thanks!