Barry Gilbert, CPA, EA
Enrolled to Practice Before the Internal Revenue Service
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Is Now The Time To Consider a Real Estate Rental Property?Does the decline in real estate values present a business opportunity? Real estate rentals historically have been a popular long-term investment, and if you believe that this market eventually will rebound from its current slump, this may be the time to consider such an investment.Read the article »
How to Avoid Common Business MistakesIt is not uncommon for business owners to become so involved with their day-to-day operations that they overlook some important issues associated with being in business. Here are some tips to help you avoid making costly mistakes and to ensure that your business runs smoothly.Read the article »
Determining Vehicle Business UseHow does a taxpayer who uses his or her vehicle partly for business determine what portion of the vehicle’s operating expenses can be deducted for business use? According to tax regulations, business use is determined by the number of miles traveled between two business locations.Read the article »
Plan for Auto DeductionsWhen you use a vehicle for business purposes, the business portion of the operating expenses can be deducted on your self-employed business or, if you are an employee as a miscellaneous itemized deduction. (If you are an employee, you may claim the deduction only if using your own vehicle is a condition of your employment and doing so is for your employer’s convenience.) The tax code provides two possible options for computing the deduction: using the standard mileage rate or using actual expenses.Read the article »
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