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Tax Tactics
| Julian Block, a former IRS agent and tax attorney, is the author of "Julian Block's Tax Avoidance Secrets" ($29.95 p&h included, 560 pgs. Mention you are a PhotoStockNotes subscriber and receive the book for $19.95. 3 Washington Sq, Station 5, Larchmont NY 10538-2032). Julian can be reached on the PRODIGY (EXPT16B) bulletin board or join him in the Chatroom for a chat on Taxes on Monday nights at 10:00 EST. |
WHEN CAN YOU DEDUCT BUSINESS EXPENSES
Dan P. Butts considered himself to be a self-employed Insurance agent, and he fully deducted business expenses on Schedule C. But the IRS said Dan was an employee, added the expenses to his miscellaneous expenses, and allowed their deduction only to the extent they exceeded 2% of his Adjusted Gross Income. The IRS argued that he represented only one insurer, and from that company, received vacation, health and pension benefits from it, and could not be dismissed without notice.
Eleventh Circuit Court of Appeals: Dan was defined as an
independent contractor and entitled to deduct all his expenses on
Schedule C. The court ruled that his pay depended entirely on
performance, he was required to manage and pay his own office
personnel, and he ran his business free of supervision.
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