How does the owner of a corporation claim a tax deduction for an office in the home? Rental is not the best method. Deducting employee business expenses as miscellaneous itemized deductions is not the best method. The best method is to use an accountable plan, as you will learn in this article.

If you are thinking about a new business, you need to know the rules on how to deduct start-up costs right now. Why? Your deductible costs could start accumulating simultaneously with your thinking about this new business.

The IRS has issued a new revenue ruling granting bigger deductions than the courts have granted on home mortgage interest deductions for alternative minimum tax purposes.

This article gives you tax-saving tips on raw land and vacant lots held for investment. Tax law favors raw land and vacant lot investments, allowing choices to expense or capitalize.

Your home equity loan can give you a full, partial, or no deduction for your interest. If you will get zero or a reduced benefit, make the necessary changes to protect your tax benefits.

Beware! Learn how the Alternative Minimum Tax (AMT) taxes the mortgage interest deduction that lawmakers granted you under the regular income tax. Ouch!

Do you own an asset whose sale will produce a capital gain to you? Are you going to take back a note for some of the sales proceeds? If so, consider the “imputed interest” rules as a net-worth building opportunity. You can get up to 57 percent reduction in your tax bite, without changing the buyer’s out-of-pocket spending.

A new IRS rule says that you may deduct investment interest above the line when you pay interest on debt incurred in the conduct of certain trade or business activities. Above the line interest reduces your gross income. This is good news.

There is no such thing as zero interest for tax purposes.

Your son may not deduct the interest on the mortgage payments he makes on your behalf. You need to reconsider and restructure this arrangement.