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Vita tax program 2012 locations Publication 901 - Introductory Material Table of Contents Future Developments Reminders IntroductionOrdering forms and publications. Vita tax program 2012 locations Tax questions. Vita tax program 2012 locations Obtaining copies of treaties. Vita tax program 2012 locations Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 901, such as treaties effective after it was published, go to www. Vita tax program 2012 locations irs. Vita tax program 2012 locations gov/pub901. Vita tax program 2012 locations Reminders Disclosure of a treaty-based position that reduces your tax. Vita tax program 2012 locations  If you take the position that any U. Vita tax program 2012 locations S. Vita tax program 2012 locations tax is overruled or otherwise reduced by a U. Vita tax program 2012 locations S. Vita tax program 2012 locations treaty (a treaty-based position), you generally must disclose that position on your affected return. Vita tax program 2012 locations See Application of Treaties, later. Vita tax program 2012 locations U. Vita tax program 2012 locations S. Vita tax program 2012 locations –U. Vita tax program 2012 locations S. Vita tax program 2012 locations S. Vita tax program 2012 locations R. Vita tax program 2012 locations income tax treaty. Vita tax program 2012 locations  The U. Vita tax program 2012 locations S. Vita tax program 2012 locations –U. Vita tax program 2012 locations S. Vita tax program 2012 locations S. Vita tax program 2012 locations R. Vita tax program 2012 locations income tax treaty remains in effect for the following members of the Commonwealth of Independent States: Armenia, Azerbaijan, Belarus, Georgia, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Uzbekistan. Vita tax program 2012 locations That treaty will remain in effect until new treaties with these individual countries are negotiated and ratified. Vita tax program 2012 locations Provisions of the U. Vita tax program 2012 locations S. Vita tax program 2012 locations –U. Vita tax program 2012 locations S. Vita tax program 2012 locations S. Vita tax program 2012 locations R. Vita tax program 2012 locations income tax treaty are discussed in this publication under Commonwealth of Independent States. Vita tax program 2012 locations U. Vita tax program 2012 locations S. Vita tax program 2012 locations –China income tax treaty. Vita tax program 2012 locations  The U. Vita tax program 2012 locations S. Vita tax program 2012 locations –China income tax treaty does not apply to Hong Kong. Vita tax program 2012 locations Introduction This publication will tell you whether a tax treaty between the United States and a particular country offers a reduced rate of, or possibly a complete exemption from, U. Vita tax program 2012 locations S. Vita tax program 2012 locations income tax for residents of that particular country. Vita tax program 2012 locations Tables in the back of this publication show the countries that have income tax treaties with the United States, the tax rates on different kinds of income, and the kinds of income that are exempt from tax. Vita tax program 2012 locations You should use this publication only for quick reference. Vita tax program 2012 locations It is not a complete guide to all provisions of every income tax treaty. Vita tax program 2012 locations Comments and suggestions. Vita tax program 2012 locations   We welcome your comments about this publication and your suggestions for future editions. Vita tax program 2012 locations   You can write to us at the following address: Internal Revenue Service Business Forms and Publications Branch SE:W:CAR:MP:T:B 1111 Constitution Ave. Vita tax program 2012 locations NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Vita tax program 2012 locations Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Vita tax program 2012 locations   You can email us at taxforms@irs. Vita tax program 2012 locations gov. Vita tax program 2012 locations Please put “Publications Comment” on the subject line. Vita tax program 2012 locations You can also send us comments from www. Vita tax program 2012 locations irs. Vita tax program 2012 locations gov/formspubs. Vita tax program 2012 locations Select “Comment on Tax Forms and Publications” under “Information About. Vita tax program 2012 locations ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Vita tax program 2012 locations Ordering forms and publications. Vita tax program 2012 locations   Visit www. Vita tax program 2012 locations irs. Vita tax program 2012 locations gov/formspubs to download forms and publications, call 1-800-829-3676, or write to the address below and receive a response within 10 days after your request is received. Vita tax program 2012 locations Internal Revenue Service 1201 N. Vita tax program 2012 locations Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Vita tax program 2012 locations   If you have a tax question, check the information available on IRS. Vita tax program 2012 locations gov or call 1-800-829-1040. Vita tax program 2012 locations We cannot answer tax questions sent to either of the above addresses. Vita tax program 2012 locations Obtaining copies of treaties. Vita tax program 2012 locations   You can get complete information about treaty provisions from the taxing authority in the country from which you receive income or from the treaty itself. Vita tax program 2012 locations   You can obtain the text of most of the treaties at www. Vita tax program 2012 locations irs. Vita tax program 2012 locations gov/businesses/international. Vita tax program 2012 locations You can also obtain the text of most of the treaties at the following address: Department of the Treasury Office of Public Correspondence 1500 Pennsylvania Ave. Vita tax program 2012 locations NW — Rm. Vita tax program 2012 locations 3419 Washington, D. Vita tax program 2012 locations C. Vita tax program 2012 locations 20220 If you have specific questions about a treaty, you can get this information from most Internal Revenue Service offices or from: Internal Revenue Service International Section Philadelphia, PA 19255-0725 Useful Items - You may want to see: Publication 519 U. Vita tax program 2012 locations S. Vita tax program 2012 locations Tax Guide for Aliens 597 Information on the United States–Canada Income Tax Treaty Form (and Instructions) 8833 Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b) See How To Get Tax Help near the end of this publication for information about getting these publications and forms. Vita tax program 2012 locations Prev  Up  Next   Home   More Online Publications
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Deducting Business Expenses

Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit.

What Can I Deduct?

To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary.

It is important to separate business expenses from the following expenses:

  • The expenses used to figure the cost of goods sold,
  • Capital Expenses, and
  • Personal Expenses.

Cost of Goods Sold

If your business manufactures products or purchases them for resale, you generally must value inventory at the beginning and end of each tax year to determine your cost of goods sold. Some of your expenses may be included in figuring the cost of goods sold. Cost of goods sold is deducted from your gross receipts to figure your gross profit for the year. If you include an expense in the cost of goods sold, you cannot deduct it again as a business expense.

The following are types of expenses that go into figuring the cost of goods sold.

  • The cost of products or raw materials, including freight
  • Storage
  • Direct labor costs (including contributions to pensions or annuity plans) for workers who produce the products
  • Factory overhead

Under the uniform capitalization rules, you must capitalize the direct costs and part of the indirect costs for certain production or resale activities. Indirect costs include rent, interest, taxes, storage, purchasing, processing, repackaging, handling, and administrative costs.

This rule does not apply to personal property you acquire for resale if your average annual gross receipts (or those of your predecessor) for the preceding 3 tax years are not more than $10 million.

For additional information, refer to the chapter on Cost of Goods Sold, Publication 334, Tax Guide for Small Businesses and the chapter on Inventories, Publication 538, Accounting Periods and Methods.

Capital Expenses

You must capitalize, rather than deduct, some costs. These costs are a part of your investment in your business and are called capital expenses. Capital expenses are considered assets in your business. There are, in general, three types of costs you capitalize.

  • Business start-up cost (See the note below)
  • Business assets
  • Improvements

Note: You can elect to deduct or amortize certain business start-up costs. Refer to chapters 7 and 8 of Publication 535, Business Expenses.

Personal versus Business Expenses

Generally, you cannot deduct personal, living, or family expenses. However, if you have an expense for something that is used partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part.

For example, if you borrow money and use 70% of it for business and the other 30% for a family vacation, you can deduct 70% of the interest as a business expense. The remaining 30% is personal interest and is not deductible. Refer to chapter 4 of Publication 535, Business Expenses, for information on deducting interest and the allocation rules.

Business Use of Your Home

If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. Refer to Home Office Deduction and Publication 587, Business Use of Your Home, for more information.

Business Use of Your Car

If you use your car in your business, you can deduct car expenses. If you use your car for both business and personal purposes, you must divide your expenses based on actual mileage. Refer to Publication 463, Travel, Entertainment, Gift, and Car Expenses. For a list of current and prior year mileage rates see the Standard Mileage Rates.

Other Types of Business Expenses

  • Employees' Pay - You can generally deduct the pay you give your employees for the services they perform for your business.
  • Retirement Plans - Retirement plans are savings plans that offer you tax advantages to set aside money for your own, and your employees' retirement.
  • Rent Expense - Rent is any amount you pay for the use of property you do not own. In general, you can deduct rent as an expense only if the rent is for property you use in your trade or business. If you have or will receive equity in or title to the property, the rent is not deductible.
  • Interest - Business interest expense is an amount charged for the use of money you borrowed for business activities.
  • Taxes - You can deduct various federal, state, local, and foreign taxes directly attributable to your trade or business as business expenses.
  • Insurance - Generally, you can deduct the ordinary and necessary cost of insurance as a business expense, if it is for your trade, business, or profession.

This list is not all inclusive of the types of business expenses that you can deduct. For additional information, refer to Publication 535, Business Expenses.

Page Last Reviewed or Updated: 04-Feb-2014

The Vita Tax Program 2012 Locations

Vita tax program 2012 locations Publication 929 - Introductory Material Table of Contents Future Developments Reminders IntroductionOrdering forms and publications. Vita tax program 2012 locations Tax questions. Vita tax program 2012 locations Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 929, such as legislation enacted after this publication was published, go to www. Vita tax program 2012 locations irs. Vita tax program 2012 locations gov/pub929. Vita tax program 2012 locations Reminders Social security number (SSN). Vita tax program 2012 locations  Dependents who are required to file a tax return must have an SSN. Vita tax program 2012 locations To apply for an SSN, file Form SS-5 with the Social Security Administration. Vita tax program 2012 locations You can go to the website www. Vita tax program 2012 locations socialsecurity. Vita tax program 2012 locations gov for more information. Vita tax program 2012 locations Individual taxpayer identification number (ITIN). Vita tax program 2012 locations  The IRS will issue an ITIN to a nonresident or resident alien who does not have and is not eligible to get an SSN. Vita tax program 2012 locations To apply for an ITIN, file Form W-7, Application for IRS Individual Taxpayer Identification Number, with the IRS. Vita tax program 2012 locations It takes 6-10 weeks to get an ITIN. Vita tax program 2012 locations The ITIN is entered wherever an SSN is requested on a tax return. Vita tax program 2012 locations If you are a nonresident alien applying for an ITIN to file a tax return, you generally must attach your original, completed return to Form W-7 to get an ITIN. Vita tax program 2012 locations See the Form W-7 instructions for more information. Vita tax program 2012 locations An ITIN is for tax use only. Vita tax program 2012 locations It does not entitle you to social security benefits or change your employment or immigration status under U. Vita tax program 2012 locations S. Vita tax program 2012 locations law. Vita tax program 2012 locations Effective January 1, 2013, ITINs will expire after 5 years. Vita tax program 2012 locations Taxpayers who still need an ITIN after the end of the expiration period must reapply for a number. Vita tax program 2012 locations Photographs of missing children. Vita tax program 2012 locations  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Vita tax program 2012 locations Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Vita tax program 2012 locations You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Vita tax program 2012 locations Introduction Part 1 of this publication explains the filing requirements and other tax information for individuals who can be claimed as a dependent on another person's tax return. Vita tax program 2012 locations  Part 2 explains how to report and figure the tax on unearned income of certain children (whether or not they can be claimed as dependents). Vita tax program 2012 locations Definitions. Vita tax program 2012 locations   Many of the terms used in this publication, such as “dependent,” “earned income,” and “unearned income,” are defined in the Glossary at the back of this publication. Vita tax program 2012 locations Comments and suggestions. Vita tax program 2012 locations   We welcome your comments about this publication and your suggestions for future editions. Vita tax program 2012 locations   You can write to us at the following address: Internal Revenue Service Tax Forms and Publications Division 1111 Constitution Ave. Vita tax program 2012 locations NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Vita tax program 2012 locations Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Vita tax program 2012 locations   You can send your comments from www. Vita tax program 2012 locations irs. Vita tax program 2012 locations gov/formspubs/. Vita tax program 2012 locations Click on “More Information” and then on “Comment on Tax Forms and Publications. Vita tax program 2012 locations ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Vita tax program 2012 locations Ordering forms and publications. Vita tax program 2012 locations   Visit www. Vita tax program 2012 locations irs. Vita tax program 2012 locations gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Vita tax program 2012 locations Internal Revenue Service 1201 N. Vita tax program 2012 locations Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Vita tax program 2012 locations   If you have a tax question, check the information available on IRS. Vita tax program 2012 locations gov or call 1-800-829-1040. Vita tax program 2012 locations We cannot answer tax questions sent to either of the above addresses. Vita tax program 2012 locations Useful Items - You may want to see: Publication 501 Exemptions, Standard Deduction, and Filing Information 505 Tax Withholding and Estimated Tax 550 Investment Income and Expenses Form (and Instructions) W-4 Employee's Withholding Allowance Certificate 8615 Tax for Certain Children Who Have Unearned Income 8814 Parents' Election To Report Child's Interest and Dividends See How To Get Tax Help near the end of this publication for information about getting these publications and forms. Vita tax program 2012 locations Prev  Up  Next   Home   More Online Publications