One of the basic truths for any taxpayer wanting to claim a deduction for business use of the home is, the office area must be used 100% for business purposes. And 100% business use means 100%. But is that really always true?
Taxation of emotional distress payments can be tricky. In general, the settlement money is taxable ... but not always.
Does the 5th Amendment Protect You During an Audit? In one word: NO.
The U.S. Tax Court says a vacant house can sometimes still qualify as a rental property.