I was reviewing one of your tax letters and read about the taxpayer who lost his tax records in a fire. Can I buy a safe or fireproof file cabinet to protect our tax records and deduct the cost if I also put personal items in this safe? (J.H., )
Yes, the safe or fireproof file cabinet is deductible to the extent of business use. If 90 percent of the space inside the safe or fireproof cabinet ... Log in to view full article.