Online Business Deductions
Help on Business Expense Calculation?
Given these facts: Taxpayer has 1 fulltime and 1 part time job
Wages as W2 employee – 100k
Income from her Online Travel Agency – 5k
AGI is 105K (assuming those are the only sources of his income)
He spent total of $1500 in 2007 for business expense for the online travel agency (includes phone and internet usage).
Question is,, can he pu that 1500 as a deduction under business expense? And which form to use?
form 8829. and it’s all deductable providing none was reinbursed or not.
Never miss another business deduction – Tracking expenses; free with Outright.com
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