An engineering firm owner from Nebraska is not entitled to deduct expenses for renting and furnishing a condo because he couldn’t prove it was used for business, the U.S. Tax Court ruled Monday in sustaining more than $500,000 in taxes and penalties against him for 2012 through 2014.
Tax Court Affirms Nix Of Biz Owner’s Condo Deductions
by usoftax_admin | Jul 29, 2024 | Tax News