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Tax Reduction Website Explains the Tax Law around Having a Home Office and Out-of-Home Office for the Same Business
San Rafael, CA
Wednesday, August 19, 2009
The Bradford Tax Institute is home to several years
The Bradford Tax Institute is home to several years' worth of Tax Reduction Letter archives.
 
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(SAN RAFAEL, Calif. - Aug. 19, 2009 - Tax Reduction Letter) A self-employed person may at once deduct taxes for a home office and an out-of-home office that both support activities for the same business, according to an article in the July 2009 issue of the Tax Reduction Letter. In the article titled "Home Office Deduction—Show Me the Proof!" tax reduction expert Murray Bradford highlights where this is indicated in tax law and in publications from the IRS itself. This an additional content on how to save money on taxes is available to anyone with a 7-day free trial to the Bradford Tax Institute, where Bradford's tax reduction tips and strategies reside in his many archived tax reduction articles

"One of the perennial questions for countless self-employed taxpayers is whether or not they may deduct expenses for both a home office and out-of-home office related to the same business," said Bradford, whose expertise in tax reduction comes from 30 years in accounting, including a lengthy stay at Price Waterhouse. "The answer is yes, they may, because tax law and the IRS itself both say so. But not all ways of claiming these tax deductions are created equal or even allow for the deductions in the first place."

Publisher of the Tax Reduction Letter every month, tax reduction expert Murray Bradford, CPA, has years of experience in developing and implementing small business tax reduction strategies. A former accountant for Price Waterhouse, Bradford is founder of several tax reduction strategy businesses. Quoted in national publications such as The Wall Street Journal and featured on national programming such as Financial News Network and CNBC, Bradford has helped more than 500,000 self-employed taxpayers realize an average of $17,700 in new tax deductions. His popular courses provide actionable small business tax advice

Several IRS publications, not to mention tax law itself, support a taxpayer's right to at once deduct expenses associated with a home office and out-of-home office that both support the same business, according to Bradford's article. Language in IRS Publication 587, for instance, says a taxpayer may have more than one location, including the home, for a single trade or business. And IRS Publication 17 clarifies that the taxpayer may deduct business mileage between these two offices. Additionally, a legacy of court cases and legislation, summarized in the article, further support the taxpayer's right to operate a home office and out-of-home office for the same business and take deductions on each

In most instances, therefore, the taxpayer may take deductions on both business offices, but the article clarifies that a taxpayer who operates as a corporation may not deduct an office in the home that he or she rents to the corporation. Furthermore, a taxpayer operating as an S corporation does best when using a reimbursement technique described in the May 2009 issue of Tax Reduction Letter, available only to Bradford Tax Institute subscribers

"Most tax questions yield nuanced answers," said Bradford. "Very little is cut-and-dry. This is why the self-employed, in particular, can benefit from a tax deduction resource that formulates answers and provides direction by pulling together all the disparate information on tax law and precedence."

Taxpayers and tax professionals can view a Bradford Tax Institute video tutorial and learn how to gain access to nearly 400 Tax Reduction Letter articles at the site, with more on the way. Each presents tax reduction tips in plain English for tax laypeople and includes annotations for savvy accounting professionals. The last three issues are available through a 7-day free trial of the Bradford Tax Institute. Readers who decide to subscribe to the Tax Reduction Letter right now, however, receive immediate access to the entire archive

"Tax Strategies for the Self-Employed (2009)" is also available. In this annual course, Bradford shares tax deduction tips designed to help one-owner and husband-and-wife businesses navigate the maze of rules they must follow to properly determine and report their income. Readers who order this tax reduction course immediately gain access to 171 tax lowering strategies that draw on Bradford's expertise from 30 years in accounting. His tutorial on S corporations, for instance, is one such strategy, made available for free. Those interested may first watch a video that shares seven free insights into reducing and audit-proofing their taxes

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About Murray Bradford, CPA, Tax Reduction Expert
Tax reduction expert Murray Bradford, certified public accountant and publisher of the monthly Tax Reduction Letter, has years of experience in developing and implementing small business tax reduction strategies. Bradford Tax Institute, his website, is home to a vast archive of Bradford's articles from the Tax Reduction Letter. Following nine years at Price Waterhouse, where he twice enjoyed the distinction of being selected to serve in the firm's Washington, D.C. national office, Bradford launched his tax reduction strategies businesses to focus on lowering taxes for one-owner and husband-and-wife businesses. Bradford has since helped more than 500,000 self-employed taxpayers realize an average of $17,700 in new tax deductions. His courses, including "Murray Bradford's Tax Strategies for the Self-Employed (2009)," are veritable goldmines of actionable small business tax advice. The news media regularly turn to Bradford for his tax strategy expertise, which he has shared in print publications and on radio and television programming, such as "CBS News Nightwatch," Financial News Network, KCBS, KGO-TV, KGO-radio, WFAN, WABC-TV, Fox, NPR, CNBC, The Wall Street Journal, The New York Times, Changing Times, Chicago Tribune, Money, Fortune and USA Today. A former Marine and author of several books, Bradford is an active member of the American Institute of Certified Public Accountants, the California Society of CPAs, the Minnesota Society of CPAs, and the Greater Washington, D.C. Society of CPAs

Readers may turn to Bradford's TaxStrategies Blog and Youtube page for his latest thinking on matters tax-related

Anyone may follow Bradford on Twitter http://twitter.com/taxreductioncpa), visit his profile on Facebook http://profile.to/taxreductioncpa), and connect with him on LinkedIn

The media may contact the following individuals:

Kelly Clark
Regional Resource Manager, Tax Reduction Letter
7 Mount Lassen Dr., Ste. C258
San Rafael, CA 94903
kclark AT bradfordandcompany DOT com
PHONE (direct): 415-446-4342
PHONE (main): 415-446-4340
FAX: 415-446-0127

Brent Skinner
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PHONE: 617-875-4859
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Murray Bradford
Tax Reduction Expert
Bradford Tax Institute
San Rafael, CA
415-446-4342
415-446-0127
 
 
Second Url: TaxStrategies Blog
 
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