To determine if something meets the business-use requirement, you need to divide its use among different purposes during the year. For cars and other transportation, use mileage to figure this out. Find the percentage of business use by dividing the miles driven for business by the total miles...
You’ll also have to give the IRS your former spouse’s Social Security number, so the IRS can check to make sure he or she is reporting the alimony as income. 11. Moving expenses deduction (military personnel only) If you’re in the military, thank you for your service. And if you ...
An underpayment penalty is an IRS fine for failing to pay enough of your total income taxes owed during the year. Here’s how to determine if you owe a penalty.