Search Help

Enter one of more keywords to search. Use quotes for “exact phrase.” Note that '*' and '?' wildcards are supported.

When your search results appear, you can refine your search further: Sort for only results in which all search terms appear AND/OR sort by chronological order.

Article Date:
March 2006

Word Count:



Bed and Breakfast Joke

Dennis E. Lofstrom reported $649 of income and $19,158 in expenses on his Angel’s Rest Arrowhead Ranch Fly-In Bed and Breakfast. The court granted a zero deduction for the expenses because1



Lofstrom allowed his daughter and her family to use the B&B. Tax law counts the daughter’s use as personal use by Lofstrom, and the amount of her personal use made the B&B a Lofstrom residence for tax purposes.


Lofstrom did not use the B&B exclusively for business.


Lofstrom had no records proving ... Log in to view full article.

Already a subscriber?
Email Address

You’ll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter
Not yet a subscriber?
with a money-back guarantee

Powered by Cranium Softworks - CMS, Subscription Mgmt & Web Development