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Late Filing 2011 Taxes

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Late Filing 2011 Taxes

Late filing 2011 taxes Publication 957 - Introductory Material Table of Contents Future Developments Introduction Future Developments For the latest information about developments related to Publication 957, such as legislation enacted after it was published, go to www. Late filing 2011 taxes irs. Late filing 2011 taxes gov/pub957. Late filing 2011 taxes Introduction The Social Security Administration (SSA) has special rules for back pay awarded by a court or government agency to enforce a worker protection statute (law). Late filing 2011 taxes The SSA also has rules for reporting special wage payments made to employees after they retire. Late filing 2011 taxes These rules enable the SSA to correctly compute an employee's benefits under the social security earnings test. Late filing 2011 taxes These rules are for social security coverage and benefit purposes only. Late filing 2011 taxes This publication, written primarily for employers, discusses back pay under a statute and special wage payments. Late filing 2011 taxes It also explains how to report these payments to the SSA. Late filing 2011 taxes For more information, visit SSA's website at www. Late filing 2011 taxes socialsecurity. Late filing 2011 taxes gov/employer. Late filing 2011 taxes To get a copy of Form SSA-131, Employer Report of Special Wage Payments, visit SSA's website at www. Late filing 2011 taxes socialsecurity. Late filing 2011 taxes gov/online/ssa-131. Late filing 2011 taxes html. Late filing 2011 taxes Prev  Up  Next   Home   More Online Publications
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IRS Has $760 Million for People Who Have Not Filed a 2010 Income Tax Return

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IR-2014-30, March 19, 2014

WASHINGTON — Refunds totaling almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a federal income tax return for 2010, the Internal Revenue Service announced today. However, to collect the money, a return for 2010 must be filed with the IRS no later than Tuesday, April 15, 2014.

"The window is quickly closing for people who are owed refunds from 2010 who haven't filed a tax return," said IRS Commissioner John Koskinen. "We encourage students, part-time workers and others who haven't filed for 2010 to look into this before time runs out on April 15."

The IRS estimates that half the potential refunds for 2010 are more than $571.

Some people may not have filed because they had too little income to require filing a tax return even though they had taxes withheld from their wages or made quarterly estimated payments. In cases where a return was not filed, the law provides most taxpayers with a three-year window of opportunity for claiming a refund. If no return is filed to claim a refund within three years, the money becomes property of the U.S. Treasury.

For 2010 returns, the window closes on April 15, 2014. The law requires that the return be properly addressed, mailed and postmarked by that date. There is no penalty for filing a late return qualifying for a refund.

The IRS reminds taxpayers seeking a 2010 refund that their checks may be held if they have not filed tax returns for 2011 and 2012. In addition, the refund will be applied to any amounts still owed to the IRS or their state tax agency, and may be used to offset unpaid child support or past due federal debts such as student loans.

By failing to file a return, people stand to lose more than just their refund of taxes withheld or paid during 2010. In addition, many low-and-moderate income workers may not have claimed the Earned Income Tax Credit (EITC). For 2010, the credit is worth as much as $5,666. The EITC helps individuals and families whose incomes are below certain thresholds. The thresholds for 2010 were:

  • $43,352 ($48,362 if married filing jointly) for those with three or more qualifying children,
  • $40,363 ($45,373 if married filing jointly) for people with two qualifying children,
  • $35,535 ($40,545 if married filing jointly) for those with one qualifying child, and
  • $13,460 ($18,470 if married filing jointly) for people without qualifying children.

Current and prior year tax forms and instructions are available on the Forms and Publications page of IRS.gov or by calling toll-free 800-TAX-FORM (800-829-3676). Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for 2010, 2011 or 2012 should request copies from their employer, bank or other payer.

If these efforts are unsuccessful, taxpayers can get a free transcript showing information from these year-end documents by going to IRS.gov. Taxpayers can also file Form 4506-T to request a transcript of their tax return.

Individuals who did not file a 2010 return with a potential refund:
 

State or District

Estimated

Number of

Individuals

Median

Potential

Refund

Total

Potential

Refunds*

 

Alabama

15,700

$574

$12,473,000

Alaska

4,700

$649

$4,810,000

Arizona

23,800

$508

$17,517,000

Arkansas

8,400

$562

$6,667,000

California

86,500

$519

$69,752,000

Colorado

17,100

$567

$14,061,000

Connecticut

11,700

$620

$10,304,000

Delaware

3,800

$573

$3,126,000

District of Columbia

3,500

$604

$3,080,000

Florida

56,800

$593

$48,407,000

Georgia

28,400

$539

$22,504,000

Hawaii

6,200

$586

$5,413,000

Idaho

3,500

$490

$2,604,000

Illinois

37,900

$626

$32,696,000

Indiana

19,600

$570

$15,478,000

Iowa

9,200

$576

$7,050,000

Kansas

9,300

$522

$6,986,000

Kentucky

11,500

$576

$8,975,000

Louisiana

17,500

$603

$15,579,000

Maine

3,500

$502

$2,373,000

Maryland

20,700

$575

$18,002,000

Massachusetts

21,000

$560

$17,856,000

Michigan

29,200

$597

$24,259,000

Minnesota

12,700

$516

$9,582,000

Mississippi

8,500

$556

$6,769,000

Missouri

17,900

$514

$13,153,000

Montana

2,900

$534

$2,338,000

Nebraska

4,500

$528

$3,368,000

Nevada

11,400

$570

$9,156,000

New Hampshire

3,800

$602

$3,245,000

New Jersey

29,500

$639

$26,712,000

New Mexico

7,200

$572

$5,915,000

New York

57,400

$623

$50,543,000

North Carolina

24,300

$494

$17,538,000

North Dakota

1,900

$600

$1,551,000

Ohio

32,100

$560

$24,508,000

Oklahoma

15,100

$585

$12,246,000

Oregon

14,300

$519

$10,359,000

Pennsylvania

37,400

$614

$31,009,000

Rhode Island

3,000

$598

$2,472,000

South Carolina

10,200

$532

$7,756,000

South Dakota

2,100

$558

$1,605,000

Tennessee

16,300

$559

$12,839,000

Texas

80,600

$588

$71,998,000

Utah

6,100

$518

$4,705,000

Vermont

1,600

$519

$1,136,000

Virginia

26,300

$568

$22,376,000

Washington

24,800

$640

$23,033,000

West Virginia

4,100

$626

$3,534,000

Wisconsin

10,900

$516

$8,423,000

Wyoming

2,200

$648

$2,045,000

Totals

918,600

$571

$759,889,000

                      * Excluding the Earned Income Tax Credit and other credits.

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Page Last Reviewed or Updated: 28-Mar-2014

The Late Filing 2011 Taxes

Late filing 2011 taxes 8. Late filing 2011 taxes   Business Expenses Table of Contents Introduction Useful Items - You may want to see: Bad DebtsAccrual method. Late filing 2011 taxes Cash method. Late filing 2011 taxes Car and Truck ExpensesOffice in the home. Late filing 2011 taxes Methods for Deducting Car and Truck Expenses Reimbursing Your Employees for Expenses Depreciation Employees' PayFringe benefits. Late filing 2011 taxes InsuranceHow to figure the deduction. Late filing 2011 taxes Interest Legal and Professional FeesTax preparation fees. Late filing 2011 taxes Pension Plans Rent Expense Taxes Travel, Meals, and EntertainmentTransportation. Late filing 2011 taxes Taxi, commuter bus, and limousine. Late filing 2011 taxes Baggage and shipping. Late filing 2011 taxes Car or truck. Late filing 2011 taxes Meals and lodging. Late filing 2011 taxes Cleaning. Late filing 2011 taxes Telephone. Late filing 2011 taxes Tips. Late filing 2011 taxes More information. Late filing 2011 taxes Business Use of Your HomeExceptions to exclusive use. Late filing 2011 taxes Other Expenses You Can Deduct Expenses You Cannot Deduct Introduction You can deduct the costs of operating your business. Late filing 2011 taxes These costs are known as business expenses. Late filing 2011 taxes These are costs you do not have to capitalize or include in the cost of goods sold but can deduct in the current year. Late filing 2011 taxes To be deductible, a business expense must be both ordinary and necessary. Late filing 2011 taxes An ordinary expense is one that is common and accepted in your field of business. Late filing 2011 taxes A necessary expense is one that is helpful and appropriate for your business. Late filing 2011 taxes An expense does not have to be indispensable to be considered necessary. Late filing 2011 taxes For more information about the general rules for deducting business expenses, see chapter 1 in Publication 535, Business Expenses. Late filing 2011 taxes If you have an expense that is partly for business and partly personal, separate the personal part from the business part. Late filing 2011 taxes The personal part is not deductible. Late filing 2011 taxes Useful Items - You may want to see: Publication 463 Travel, Entertainment, Gift, and Car Expenses 535 Business Expenses 946 How To Depreciate Property See chapter 12 for information about getting publications and forms. Late filing 2011 taxes Bad Debts If someone owes you money you cannot collect, you have a bad debt. Late filing 2011 taxes There are two kinds of bad debts, business bad debts and nonbusiness bad debts. Late filing 2011 taxes A business bad debt is generally one that comes from operating your trade or business. Late filing 2011 taxes You may be able to deduct business bad debts as an expense on your business tax return. Late filing 2011 taxes Business bad debt. Late filing 2011 taxes   A business bad debt is a loss from the worthlessness of a debt that was either of the following. Late filing 2011 taxes Created or acquired in your business. Late filing 2011 taxes Closely related to your business when it became partly or totally worthless. Late filing 2011 taxes A debt is closely related to your business if your primary motive for incurring the debt is a business reason. Late filing 2011 taxes   Business bad debts are mainly the result of credit sales to customers. Late filing 2011 taxes They can also be the result of loans to suppliers, clients, employees, or distributors. Late filing 2011 taxes Goods and services customers have not paid for are shown in your books as either accounts receivable or notes receivable. Late filing 2011 taxes If you are unable to collect any part of these accounts or notes receivable, the uncollectible part is a business bad debt. Late filing 2011 taxes    You can take a bad debt deduction for these accounts and notes receivable only if the amount you were owed was included in your gross income either for the year the deduction is claimed or for a prior year. Late filing 2011 taxes Accrual method. Late filing 2011 taxes   If you use an accrual method of accounting, you normally report income as you earn it. Late filing 2011 taxes You can take a bad debt deduction for an uncollectible receivable if you have included the uncollectible amount in income. Late filing 2011 taxes Cash method. Late filing 2011 taxes   If you use the cash method of accounting, you normally report income when you receive payment. Late filing 2011 taxes You cannot take a bad debt deduction for amounts owed to you that you have not received and cannot collect if you never included those amounts in income. Late filing 2011 taxes More information. Late filing 2011 taxes   For more information about business bad debts, see chapter 10 in Publication 535. Late filing 2011 taxes Nonbusiness bad debts. Late filing 2011 taxes   All other bad debts are nonbusiness bad debts and are deductible as short-term capital losses on Form 8949 and Schedule D (Form 1040). Late filing 2011 taxes For more information on nonbusiness bad debts, see Publication 550, Investment Income and Expenses. Late filing 2011 taxes Car and Truck Expenses If you use your car or truck in your business, you may be able to deduct the costs of operating and maintaining your vehicle. Late filing 2011 taxes You also may be able to deduct other costs of local transportation and traveling away from home overnight on business. Late filing 2011 taxes You may qualify for a tax credit for qualified plug-in electric vehicles, qualified plug-in electric drive motor vehicles, and alternative motor vehicles you place in service during the year. Late filing 2011 taxes See Form 8936 and Form 8910 for more information. Late filing 2011 taxes Local transportation expenses. Late filing 2011 taxes   Local transportation expenses include the ordinary and necessary costs of all the following. Late filing 2011 taxes Getting from one workplace to another in the course of your business or profession when you are traveling within the city or general area that is your tax home. Late filing 2011 taxes Tax home is defined later. Late filing 2011 taxes Visiting clients or customers. Late filing 2011 taxes Going to a business meeting away from your regular workplace. Late filing 2011 taxes Getting from your home to a temporary workplace when you have one or more regular places of work. Late filing 2011 taxes These temporary workplaces can be either within the area of your tax home or outside that area. Late filing 2011 taxes Local business transportation does not include expenses you have while traveling away from home overnight. Late filing 2011 taxes Those expenses are deductible as travel expenses and are discussed later under Travel, Meals, and Entertainment. Late filing 2011 taxes However, if you use your car while traveling away from home overnight, use the rules in this section to figure your car expense deduction. Late filing 2011 taxes   Generally, your tax home is your regular place of business, regardless of where you maintain your family home. Late filing 2011 taxes It includes the entire city or general area in which your business or work is located. Late filing 2011 taxes Example. Late filing 2011 taxes You operate a printing business out of rented office space. Late filing 2011 taxes You use your van to deliver completed jobs to your customers. Late filing 2011 taxes You can deduct the cost of round-trip transportation between your customers and your print shop. Late filing 2011 taxes    You cannot deduct the costs of driving your car or truck between your home and your main or regular workplace. Late filing 2011 taxes These costs are personal commuting expenses. Late filing 2011 taxes Office in the home. Late filing 2011 taxes   Your workplace can be your home if you have an office in your home that qualifies as your principal place of business. Late filing 2011 taxes For more information, see Business Use of Your Home, later. Late filing 2011 taxes Example. Late filing 2011 taxes You are a graphics designer. Late filing 2011 taxes You operate your business out of your home. Late filing 2011 taxes Your home qualifies as your principal place of business. Late filing 2011 taxes You occasionally have to drive to your clients to deliver your completed work. Late filing 2011 taxes You can deduct the cost of the round-trip transportation between your home and your clients. Late filing 2011 taxes Methods for Deducting Car and Truck Expenses For local transportation or overnight travel by car or truck, you generally can use one of the following methods to figure your expenses. Late filing 2011 taxes Standard mileage rate. Late filing 2011 taxes Actual expenses. Late filing 2011 taxes Standard mileage rate. Late filing 2011 taxes   You may be able to use the standard mileage rate to figure the deductible costs of operating your car, van, pickup, or panel truck for business purposes. Late filing 2011 taxes For 2013, the standard mileage rate is 56. Late filing 2011 taxes 5 cents per mile. Late filing 2011 taxes    If you choose to use the standard mileage rate for a year, you cannot deduct your actual expenses for that year except for business-related parking fees and tolls. Late filing 2011 taxes Choosing the standard mileage rate. Late filing 2011 taxes   If you want to use the standard mileage rate for a car or truck you own, you must choose to use it in the first year the car is available for use in your business. Late filing 2011 taxes In later years, you can choose to use either the standard mileage rate or actual expenses. Late filing 2011 taxes   If you use the standard mileage rate for a car you lease, you must choose to use it for the entire lease period (including renewals). Late filing 2011 taxes Standard mileage rate not allowed. Late filing 2011 taxes   You cannot use the standard mileage rate if you: Operate five or more cars at the same time, Claimed a depreciation deduction using any method other than straight line, for example, ACRS or MACRS, Claimed a section 179 deduction on the car, Claimed the special depreciation allowance on the car, Claimed actual car expenses for a car you leased, or Are a rural mail carrier who received a qualified reimbursement. Late filing 2011 taxes Parking fees and tolls. Late filing 2011 taxes   In addition to using the standard mileage rate, you can deduct any business-related parking fees and tolls. Late filing 2011 taxes (Parking fees you pay to park your car at your place of work are nondeductible commuting expenses. Late filing 2011 taxes ) Actual expenses. Late filing 2011 taxes   If you do not choose to use the standard mileage rate, you may be able to deduct your actual car or truck expenses. Late filing 2011 taxes    If you qualify to use both methods, figure your deduction both ways to see which gives you a larger deduction. Late filing 2011 taxes   Actual car expenses include the costs of the following items. Late filing 2011 taxes Depreciation Lease payments Registration Garage rent Licenses Repairs Gas Oil Tires Insurance Parking fees Tolls   If you use your vehicle for both business and personal purposes, you must divide your expenses between business and personal use. Late filing 2011 taxes You can divide your expenses based on the miles driven for each purpose. Late filing 2011 taxes Example. Late filing 2011 taxes You are the sole proprietor of a flower shop. Late filing 2011 taxes You drove your van 20,000 miles during the year. Late filing 2011 taxes 16,000 miles were for delivering flowers to customers and 4,000 miles were for personal use (including commuting miles). Late filing 2011 taxes You can claim only 80% (16,000 ÷ 20,000) of the cost of operating your van as a business expense. Late filing 2011 taxes More information. Late filing 2011 taxes   For more information about the rules for claiming car and truck expenses, see Publication 463. Late filing 2011 taxes Reimbursing Your Employees for Expenses You generally can deduct the amount you reimburse your employees for car and truck expenses. Late filing 2011 taxes The reimbursement you deduct and the manner in which you deduct it depend in part on whether you reimburse the expenses under an accountable plan or a nonaccountable plan. Late filing 2011 taxes For details, see chapter 11 in Publication 535. Late filing 2011 taxes That chapter explains accountable and nonaccountable plans and tells you whether to report the reimbursement on your employee's Form W-2, Wage and Tax Statement. Late filing 2011 taxes Depreciation If property you acquire to use in your business is expected to last more than 1 year, you generally cannot deduct the entire cost as a business expense in the year you acquire it. Late filing 2011 taxes You must spread the cost over more than 1 tax year and deduct part of it each year on Schedule C. Late filing 2011 taxes This method of deducting the cost of business property is called depreciation. Late filing 2011 taxes The discussion here is brief. Late filing 2011 taxes You will find more information about depreciation in Publication 946. Late filing 2011 taxes What property can be depreciated?   You can depreciate property if it meets all the following requirements. Late filing 2011 taxes It must be property you own. Late filing 2011 taxes It must be used in business or held to produce income. Late filing 2011 taxes You never can depreciate inventory (explained in chapter 2) because it is not held for use in your business. Late filing 2011 taxes It must have a useful life that extends substantially beyond the year it is placed in service. Late filing 2011 taxes It must have a determinable useful life, which means that it must be something that wears out, decays, gets used up, becomes obsolete, or loses its value from natural causes. Late filing 2011 taxes You never can depreciate the cost of land because land does not wear out, become obsolete, or get used up. Late filing 2011 taxes It must not be excepted property. Late filing 2011 taxes This includes property placed in service and disposed of in the same year. Late filing 2011 taxes Repairs. Late filing 2011 taxes    You cannot depreciate repairs and replacements that do not increase the value of your property, make it more useful, or lengthen its useful life. Late filing 2011 taxes You can deduct these amounts on line 21 of Schedule C or line 2 of Schedule C-EZ. Late filing 2011 taxes Depreciation method. Late filing 2011 taxes   The method for depreciating most business and investment property placed in service after 1986 is called the Modified Accelerated Cost Recovery System (MACRS). Late filing 2011 taxes MACRS is discussed in detail in Publication 946. Late filing 2011 taxes Section 179 deduction. Late filing 2011 taxes   You can elect to deduct a limited amount of the cost of certain depreciable property in the year you place the property in service. Late filing 2011 taxes This deduction is known as the “section 179 deduction. Late filing 2011 taxes ” The maximum amount you can elect to deduct during 2013 is generally $500,000 (higher limits apply to certain property). Late filing 2011 taxes See IRC 179(e). Late filing 2011 taxes   This limit is generally reduced by the amount by which the cost of the property placed in service during the tax year exceeds $2 million. Late filing 2011 taxes The total amount of depreciation (including the section 179 deduction) you can take for a passenger automobile you use in your business and first place in service in 2013 is $3,160 ($11,160 if you take the special depreciation allowance for qualified passenger automobiles placed in service in 2013). Late filing 2011 taxes Special rules apply to trucks and vans. Late filing 2011 taxes For more information, see Publication 946. Late filing 2011 taxes It explains what property qualifies for the deduction, what limits apply to the deduction, and when and how to recapture the deduction. Late filing 2011 taxes    Your section 179 election for the cost of any sport utility vehicle (SUV) and certain other vehicles is limited to $25,000. Late filing 2011 taxes For more information, see the Instructions for Form 4562 or Publication 946. Late filing 2011 taxes Listed property. Late filing 2011 taxes   You must follow special rules and recordkeeping requirements when depreciating listed property. Late filing 2011 taxes Listed property is any of the following. Late filing 2011 taxes Most passenger automobiles. Late filing 2011 taxes Most other property used for transportation. Late filing 2011 taxes Any property of a type generally used for entertainment, recreation, or amusement. Late filing 2011 taxes Certain computers and related peripheral equipment. Late filing 2011 taxes   For more information about listed property, see Publication 946. Late filing 2011 taxes Form 4562. Late filing 2011 taxes   Use Form 4562, Depreciation and Amortization, if you are claiming any of the following. Late filing 2011 taxes Depreciation on property placed in service during the current tax year. Late filing 2011 taxes A section 179 deduction. Late filing 2011 taxes Depreciation on any listed property (regardless of when it was placed in service). Late filing 2011 taxes    If you have to use Form 4562, you must file Schedule C. Late filing 2011 taxes You cannot use Schedule C-EZ. Late filing 2011 taxes   Employees' Pay You can generally deduct on Schedule C the pay you give your employees for the services they perform for your business. Late filing 2011 taxes The pay may be in cash, property, or services. Late filing 2011 taxes To be deductible, your employees' pay must be an ordinary and necessary expense and you must pay or incur it in the tax year. Late filing 2011 taxes In addition, the pay must meet both the following tests. Late filing 2011 taxes The pay must be reasonable. Late filing 2011 taxes The pay must be for services performed. Late filing 2011 taxes Chapter 2 in Publication 535 explains and defines these requirements. Late filing 2011 taxes You cannot deduct your own salary or any personal withdrawals you make from your business. Late filing 2011 taxes As a sole proprietor, you are not an employee of the business. Late filing 2011 taxes If you had employees during the year, you must use Schedule C. Late filing 2011 taxes You cannot use Schedule C-EZ. Late filing 2011 taxes Kinds of pay. Late filing 2011 taxes   Some of the ways you may provide pay to your employees are listed below. Late filing 2011 taxes For an explanation of each of these items, see chapter 2 in Publication 535. Late filing 2011 taxes Awards. Late filing 2011 taxes Bonuses. Late filing 2011 taxes Education expenses. Late filing 2011 taxes Fringe benefits (discussed later). Late filing 2011 taxes Loans or advances you do not expect the employee to repay if they are for personal services actually performed. Late filing 2011 taxes Property you transfer to an employee as payment for services. Late filing 2011 taxes Reimbursements for employee business expenses. Late filing 2011 taxes Sick pay. Late filing 2011 taxes Vacation pay. Late filing 2011 taxes Fringe benefits. Late filing 2011 taxes   A fringe benefit is a form of pay for the performance of services. Late filing 2011 taxes The following are examples of fringe benefits. Late filing 2011 taxes Benefits under qualified employee benefit programs. Late filing 2011 taxes Meals and lodging. Late filing 2011 taxes The use of a car. Late filing 2011 taxes Flights on airplanes. Late filing 2011 taxes Discounts on property or services. Late filing 2011 taxes Memberships in country clubs or other social clubs. Late filing 2011 taxes Tickets to entertainment or sporting events. Late filing 2011 taxes   Employee benefit programs include the following. Late filing 2011 taxes Accident and health plans. Late filing 2011 taxes Adoption assistance. Late filing 2011 taxes Cafeteria plans. Late filing 2011 taxes Dependent care assistance. Late filing 2011 taxes Educational assistance. Late filing 2011 taxes Group-term life insurance coverage. Late filing 2011 taxes Welfare benefit funds. Late filing 2011 taxes   You can generally deduct the cost of fringe benefits you provide on your Schedule C in whatever category the cost falls. Late filing 2011 taxes For example, if you allow an employee to use a car or other property you lease, deduct the cost of the lease as a rent or lease expense. Late filing 2011 taxes If you own the property, include your deduction for its cost or other basis as a section 179 deduction or a depreciation deduction. Late filing 2011 taxes    You may be able to exclude all or part of the fringe benefits you provide from your employees' wages. Late filing 2011 taxes For more information about fringe benefits and the exclusion of benefits, see Publication 15-B, Employer's Tax Guide to Fringe Benefits. Late filing 2011 taxes Insurance You can generally deduct premiums you pay for the following kinds of insurance related to your business. Late filing 2011 taxes Fire, theft, flood, or similar insurance. Late filing 2011 taxes Credit insurance that covers losses from business bad debts. Late filing 2011 taxes Group hospitalization and medical insurance for employees, including long-term care insurance. Late filing 2011 taxes Liability insurance. Late filing 2011 taxes Malpractice insurance that covers your personal liability for professional negligence resulting in injury or damage to patients or clients. Late filing 2011 taxes Workers' compensation insurance set by state law that covers any claims for bodily injuries or job-related diseases suffered by employees in your business, regardless of fault. Late filing 2011 taxes Contributions to a state unemployment insurance fund are deductible as taxes if they are considered taxes under state law. Late filing 2011 taxes Overhead insurance that pays for business overhead expenses you have during long periods of disability caused by your injury or sickness. Late filing 2011 taxes Car and other vehicle insurance that covers vehicles used in your business for liability, damages, and other losses. Late filing 2011 taxes If you operate a vehicle partly for personal use, deduct only the part of the insurance premium that applies to the business use of the vehicle. Late filing 2011 taxes If you use the standard mileage rate to figure your car expenses, you cannot deduct any car insurance premiums. Late filing 2011 taxes Life insurance covering your employees if you are not directly or indirectly the beneficiary under the contract. Late filing 2011 taxes Business interruption insurance that pays for lost profits if your business is shut down due to a fire or other cause. Late filing 2011 taxes Nondeductible premiums. Late filing 2011 taxes   You cannot deduct premiums on the following kinds of insurance. Late filing 2011 taxes Self-insurance reserve funds. Late filing 2011 taxes You cannot deduct amounts credited to a reserve set up for self-insurance. Late filing 2011 taxes This applies even if you cannot get business insurance coverage for certain business risks. Late filing 2011 taxes However, your actual losses may be deductible. Late filing 2011 taxes For more information, see Publication 547, Casualties, Disasters, and Thefts. Late filing 2011 taxes Loss of earnings. Late filing 2011 taxes You cannot deduct premiums for a policy that pays for your lost earnings due to sickness or disability. Late filing 2011 taxes However, see item (8) in the previous list. Late filing 2011 taxes Certain life insurance and annuities. Late filing 2011 taxes For contracts issued before June 9, 1997, you cannot deduct the premiums on a life insurance policy covering you, an employee, or any person with a financial interest in your business if you are directly or indirectly a beneficiary of the policy. Late filing 2011 taxes You are included among possible beneficiaries of the policy if the policy owner is obligated to repay a loan from you using the proceeds of the policy. Late filing 2011 taxes A person has a financial interest in your business if the person is an owner or part owner of the business or has lent money to the business. Late filing 2011 taxes For contracts issued after June 8, 1997, you generally cannot deduct the premiums on any life insurance policy, endowment contract, or annuity contract if you are directly or indirectly a beneficiary. Late filing 2011 taxes The disallowance applies without regard to whom the policy covers. Late filing 2011 taxes Insurance to secure a loan. Late filing 2011 taxes If you take out a policy on your life or on the life of another person with a financial interest in your business to get or protect a business loan, you cannot deduct the premiums as a business expense. Late filing 2011 taxes Nor can you deduct the premiums as interest on business loans or as an expense of financing loans. Late filing 2011 taxes In the event of death, the proceeds of the policy are not taxed as income even if they are used to liquidate the debt. Late filing 2011 taxes Self-employed health insurance deduction. Late filing 2011 taxes   You may be able to deduct the amount you paid for medical and dental insurance and qualified long-term care insurance for you and your family. Late filing 2011 taxes How to figure the deduction. Late filing 2011 taxes   Generally, you can use the worksheet in the Form 1040 instructions to figure your deduction. Late filing 2011 taxes However, if any of the following apply, you must use the worksheet in chapter 6 of Publication 535. Late filing 2011 taxes You have more than one source of income subject to self-employment tax. Late filing 2011 taxes You file Form 2555 or Form 2555-EZ (relating to foreign earned income). Late filing 2011 taxes You are using amounts paid for qualified long-term care insurance to figure the deduction. Late filing 2011 taxes Prepayment. Late filing 2011 taxes   You cannot deduct expenses in advance, even if you pay them in advance. Late filing 2011 taxes This rule applies to any expense paid far enough in advance to, in effect, create an asset with a useful life extending substantially beyond the end of the current tax year. Late filing 2011 taxes Example. Late filing 2011 taxes In 2013, you signed a 3-year insurance contract. Late filing 2011 taxes Even though you paid the premiums for 2013, 2014, and 2015 when you signed the contract, you can only deduct the premium for 2013 on your 2013 tax return. Late filing 2011 taxes You can deduct in 2014 and 2015 the premium allocable to those years. Late filing 2011 taxes More information. Late filing 2011 taxes   For more information about deducting insurance, see chapter 6 in Publication 535. Late filing 2011 taxes Interest You can generally deduct as a business expense all interest you pay or accrue during the tax year on debts related to your business. Late filing 2011 taxes Interest relates to your business if you use the proceeds of the loan for a business expense. Late filing 2011 taxes It does not matter what type of property secures the loan. Late filing 2011 taxes You can deduct interest on a debt only if you meet all of the following requirements. Late filing 2011 taxes You are legally liable for that debt. Late filing 2011 taxes Both you and the lender intend that the debt be repaid. Late filing 2011 taxes You and the lender have a true debtor-creditor relationship. Late filing 2011 taxes You cannot deduct on Schedule C or C-EZ the interest you paid on personal loans. Late filing 2011 taxes If a loan is part business and part personal, you must divide the interest between the personal part and the business part. Late filing 2011 taxes Example. Late filing 2011 taxes In 2013, you paid $600 interest on a car loan. Late filing 2011 taxes During 2013, you used the car 60% for business and 40% for personal purposes. Late filing 2011 taxes You are claiming actual expenses on the car. Late filing 2011 taxes You can only deduct $360 (60% × $600) for 2013 on Schedule C or C-EZ. Late filing 2011 taxes The remaining interest of $240 is a nondeductible personal expense. Late filing 2011 taxes More information. Late filing 2011 taxes   For more information about deducting interest, see chapter 4 in Publication 535. Late filing 2011 taxes That chapter explains the following items. Late filing 2011 taxes Interest you can deduct. Late filing 2011 taxes Interest you cannot deduct. Late filing 2011 taxes How to allocate interest between personal and business use. Late filing 2011 taxes When to deduct interest. Late filing 2011 taxes The rules for a below-market interest rate loan. Late filing 2011 taxes (This is generally a loan on which no interest is charged or on which interest is charged at a rate below the applicable federal rate. Late filing 2011 taxes ) Legal and Professional Fees Legal and professional fees, such as fees charged by accountants, that are ordinary and necessary expenses directly related to operating your business are deductible on Schedule C or C-EZ. Late filing 2011 taxes However, you usually cannot deduct legal fees you pay to acquire business assets. Late filing 2011 taxes Add them to the basis of the property. Late filing 2011 taxes If the fees include payments for work of a personal nature (such as making a will), you can take a business deduction only for the part of the fee related to your business. Late filing 2011 taxes The personal part of legal fees for producing or collecting taxable income, doing or keeping your job, or for tax advice may be deductible on Schedule A (Form 1040) if you itemize deductions. Late filing 2011 taxes For more information, see Publication 529, Miscellaneous Deductions. Late filing 2011 taxes Tax preparation fees. Late filing 2011 taxes   You can deduct on Schedule C or C-EZ the cost of preparing that part of your tax return relating to your business as a sole proprietor or statutory employee. Late filing 2011 taxes You can deduct the remaining cost on Schedule A (Form 1040) if you itemize your deductions. Late filing 2011 taxes   You can also deduct on Schedule C or C-EZ the amount you pay or incur in resolving asserted tax deficiencies for your business as a sole proprietor or statutory employee. Late filing 2011 taxes Pension Plans You can set up and maintain the following small business retirement plans for yourself and your employees. Late filing 2011 taxes SEP (Simplified Employee Pension) plans. Late filing 2011 taxes SIMPLE (Savings Incentive Match Plan for Employees) plans. Late filing 2011 taxes Qualified plans (including Keogh or H. Late filing 2011 taxes R. Late filing 2011 taxes 10 plans). Late filing 2011 taxes SEP, SIMPLE, and qualified plans offer you and your employees a tax favored way to save for retirement. Late filing 2011 taxes You can deduct contributions you make to the plan for your employees on line 19 of Schedule C. Late filing 2011 taxes If you are a sole proprietor, you can deduct contributions you make to the plan for yourself on line 28 of Form 1040. Late filing 2011 taxes You can also deduct trustees' fees if contributions to the plan do not cover them. Late filing 2011 taxes Earnings on the contributions are generally tax free until you or your employees receive distributions from the plan. Late filing 2011 taxes You may also be able to claim a tax credit of 50% of the first $1,000 of qualified startup costs if you begin a new qualified defined benefit or defined contribution plan (including a 401(k) plan), SIMPLE plan, or simplified employee pension. Late filing 2011 taxes Under certain plans, employees can have you contribute limited amounts of their before-tax pay to a plan. Late filing 2011 taxes These amounts (and earnings on them) are generally tax free until your employees receive distributions from the plan. Late filing 2011 taxes For more information on retirement plans for small business, see Publication 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans). Late filing 2011 taxes Publication 590, Individual Retirement Arrangements (IRAs), discusses other tax favored ways to save for retirement. Late filing 2011 taxes Rent Expense Rent is any amount you pay for the use of property you do not own. Late filing 2011 taxes In general, you can deduct rent as a business expense only if the rent is for property you use in your business. Late filing 2011 taxes If you have or will receive equity in or title to the property, you cannot deduct the rent. Late filing 2011 taxes Unreasonable rent. Late filing 2011 taxes   You cannot take a rental deduction for unreasonable rents. Late filing 2011 taxes Ordinarily, the issue of reasonableness arises only if you and the lessor are related. Late filing 2011 taxes Rent paid to a related person is reasonable if it is the same amount you would pay to a stranger for use of the same property. Late filing 2011 taxes Rent is not unreasonable just because it is figured as a percentage of gross receipts. Late filing 2011 taxes   Related persons include members of your immediate family, including only brothers and sisters (either whole or half), your spouse, ancestors, and lineal descendants. Late filing 2011 taxes For a list of the other related persons, see section 267 of the Internal Revenue Code. Late filing 2011 taxes Rent on your home. Late filing 2011 taxes   If you rent your home and use part of it as your place of business, you may be able to deduct the rent you pay for that part. Late filing 2011 taxes You must meet the requirements for business use of your home. Late filing 2011 taxes For more information, see Business Use of Your Home , later. Late filing 2011 taxes Rent paid in advance. Late filing 2011 taxes   Generally, rent paid in your business is deductible in the year paid or accrued. Late filing 2011 taxes If you pay rent in advance, you can deduct only the amount that applies to your use of the rented property during the tax year. Late filing 2011 taxes You can deduct the rest of your payment only over the period to which it applies. Late filing 2011 taxes More information. Late filing 2011 taxes   For more information about rent, see chapter 3 in Publication 535. Late filing 2011 taxes Taxes You can deduct on Schedule C or C-EZ various federal, state, local, and foreign taxes directly attributable to your business. Late filing 2011 taxes Income taxes. Late filing 2011 taxes   You can deduct on Schedule C or C-EZ a state tax on gross income (as distinguished from net income) directly attributable to your business. Late filing 2011 taxes You can deduct other state and local income taxes on Schedule A (Form 1040) if you itemize your deductions. Late filing 2011 taxes Do not deduct federal income tax. Late filing 2011 taxes Employment taxes. Late filing 2011 taxes   You can deduct the social security, Medicare, and federal unemployment (FUTA) taxes you paid out of your own funds as an employer. Late filing 2011 taxes Employment taxes are discussed briefly in chapter 1. Late filing 2011 taxes You can also deduct payments you made as an employer to a state unemployment compensation fund or to a state disability benefit fund. Late filing 2011 taxes Deduct these payments as taxes. Late filing 2011 taxes Self-employment tax. Late filing 2011 taxes   You can deduct one-half of your self-employment tax on line 27 of Form 1040. Late filing 2011 taxes Self-employment tax is discussed in chapters 1 and 10. Late filing 2011 taxes Personal property tax. Late filing 2011 taxes   You can deduct on Schedule C or C-EZ any tax imposed by a state or local government on personal property used in your business. Late filing 2011 taxes   You can also deduct registration fees for the right to use property within a state or local area. Late filing 2011 taxes Example. Late filing 2011 taxes May and Julius Winter drove their car 7,000 business miles out of a total of 10,000 miles. Late filing 2011 taxes They had to pay $25 for their annual state license tags and $20 for their city registration sticker. Late filing 2011 taxes They also paid $235 in city personal property tax on the car, for a total of $280. Late filing 2011 taxes They are claiming their actual car expenses. Late filing 2011 taxes Because they used the car 70% for business, they can deduct 70% of the $280, or $196, as a business expense. Late filing 2011 taxes Real estate taxes. Late filing 2011 taxes   You can deduct on Schedule C or C-EZ the real estate taxes you pay on your business property. Late filing 2011 taxes Deductible real estate taxes are any state, local, or foreign taxes on real estate levied for the general public welfare. Late filing 2011 taxes The taxing authority must base the taxes on the assessed value of the real estate and charge them uniformly against all property under its jurisdiction. Late filing 2011 taxes   For more information about real estate taxes, see chapter 5 in Publication 535. Late filing 2011 taxes That chapter explains special rules for deducting the following items. Late filing 2011 taxes Taxes for local benefits, such as those for sidewalks, streets, water mains, and sewer lines. Late filing 2011 taxes Real estate taxes when you buy or sell property during the year. Late filing 2011 taxes Real estate taxes if you use an accrual method of accounting and choose to accrue real estate tax related to a definite period ratably over that period. Late filing 2011 taxes Sales tax. Late filing 2011 taxes   Treat any sales tax you pay on a service or on the purchase or use of property as part of the cost of the service or property. Late filing 2011 taxes If the service or the cost or use of the property is a deductible business expense, you can deduct the tax as part of that service or cost. Late filing 2011 taxes If the property is merchandise bought for resale, the sales tax is part of the cost of the merchandise. Late filing 2011 taxes If the property is depreciable, add the sales tax to the basis for depreciation. Late filing 2011 taxes For information on the basis of property, see Publication 551, Basis of Assets. Late filing 2011 taxes    Do not deduct state and local sales taxes imposed on the buyer that you must collect and pay over to the state or local government. Late filing 2011 taxes Do not include these taxes in gross receipts or sales. Late filing 2011 taxes Excise taxes. Late filing 2011 taxes   You can deduct on Schedule C or C-EZ all excise taxes that are ordinary and necessary expenses of carrying on your business. Late filing 2011 taxes Excise taxes are discussed briefly in chapter 1. Late filing 2011 taxes Fuel taxes. Late filing 2011 taxes   Taxes on gasoline, diesel fuel, and other motor fuels you use in your business are usually included as part of the cost of the fuel. Late filing 2011 taxes Do not deduct these taxes as a separate item. Late filing 2011 taxes   You may be entitled to a credit or refund for federal excise tax you paid on fuels used for certain purposes. Late filing 2011 taxes For more information, see Publication 510, Excise Taxes. Late filing 2011 taxes Travel, Meals, and Entertainment This section briefly explains the kinds of travel and entertainment expenses you can deduct on Schedule C or C-EZ. Late filing 2011 taxes Table 8-1. Late filing 2011 taxes When Are Entertainment Expenses Deductible? (Note. Late filing 2011 taxes The following is a summary of the rules for deducting entertainment expenses. Late filing 2011 taxes For more details about these rules, see Publication 463. Late filing 2011 taxes ) General rule You can deduct ordinary and necessary expenses to entertain a client, customer, or employee if the expenses meet the directly-related test or the associated test. Late filing 2011 taxes Definitions Entertainment includes any activity generally considered to provide entertainment, amusement, or recreation, and includes meals provided to a customer or client. Late filing 2011 taxes An ordinary expense is one that is common and accepted in your field of business, trade, or profession. Late filing 2011 taxes A necessary expense is one that is helpful and appropriate, although not necessarily required, for your business. Late filing 2011 taxes Tests to be met Directly-related test Entertainment took place in a clear business setting, or Main purpose of entertainment was the active conduct of business, and You did engage in business with the person during the entertainment period, and You had more than a general expectation of getting income or some other specific business benefit. Late filing 2011 taxes   Associated test Entertainment is associated with your trade or business, and Entertainment directly precedes or follows a substantial business discussion. Late filing 2011 taxes Other rules You cannot deduct the cost of your meal as an entertainment expense if you are claiming the meal as a travel expense. Late filing 2011 taxes You cannot deduct expenses that are lavish or extravagant under the circumstances. Late filing 2011 taxes You generally can deduct only 50% of your unreimbursed entertainment expenses. Late filing 2011 taxes Travel expenses. Late filing 2011 taxes   These are the ordinary and necessary expenses of traveling away from home for your business. Late filing 2011 taxes You are traveling away from home if both the following conditions are met. Late filing 2011 taxes Your duties require you to be away from the general area of your tax home (defined later) substantially longer than an ordinary day's work. Late filing 2011 taxes You need to get sleep or rest to meet the demands of your work while away from home. Late filing 2011 taxes Generally, your tax home is your regular place of business, regardless of where you maintain your family home. Late filing 2011 taxes It includes the entire city or general area in which your business is located. Late filing 2011 taxes See Publication 463 for more information. Late filing 2011 taxes   The following is a brief discussion of the expenses you can deduct. Late filing 2011 taxes Transportation. Late filing 2011 taxes   You can deduct the cost of travel by airplane, train, bus, or car between your home and your business destination. Late filing 2011 taxes Taxi, commuter bus, and limousine. Late filing 2011 taxes   You can deduct fares for these and other types of transportation between the airport or station and your hotel, or between the hotel and your work location away from home. Late filing 2011 taxes Baggage and shipping. Late filing 2011 taxes   You can deduct the cost of sending baggage and sample or display material between your regular and temporary work locations. Late filing 2011 taxes Car or truck. Late filing 2011 taxes   You can deduct the costs of operating and maintaining your vehicle when traveling away from home on business. Late filing 2011 taxes You can deduct actual expenses or the standard mileage rate (discussed earlier under Car and Truck Expenses), as well as business-related tolls and parking. Late filing 2011 taxes If you rent a car while away from home on business, you can deduct only the business-use portion of the expenses. Late filing 2011 taxes Meals and lodging. Late filing 2011 taxes   You can deduct the cost of meals and lodging if your business trip is overnight or long enough that you need to stop for sleep or rest to properly perform your duties. Late filing 2011 taxes In most cases, you can deduct only 50% of your meal expenses. Late filing 2011 taxes Cleaning. Late filing 2011 taxes   You can deduct the costs of dry cleaning and laundry while on your business trip. Late filing 2011 taxes Telephone. Late filing 2011 taxes   You can deduct the cost of business calls while on your business trip, including business communication by fax machine or other communication devices. Late filing 2011 taxes Tips. Late filing 2011 taxes   You can deduct the tips you pay for any expense in this list. Late filing 2011 taxes More information. Late filing 2011 taxes   For more information about travel expenses, see Publication 463. Late filing 2011 taxes Entertainment expenses. Late filing 2011 taxes   You may be able to deduct business-related entertainment expenses for entertaining a client, customer, or employee. Late filing 2011 taxes In most cases, you can deduct only 50% of these expenses. Late filing 2011 taxes   The following are examples of entertainment expenses. Late filing 2011 taxes Entertaining guests at nightclubs, athletic clubs, theaters, or sporting events. Late filing 2011 taxes Providing meals, a hotel suite, or a car to business customers or their families. Late filing 2011 taxes To be deductible, the expenses must meet the rules listed in Table 8-1. Late filing 2011 taxes For details about these rules, see Publication 463. Late filing 2011 taxes Reimbursing your employees for expenses. Late filing 2011 taxes   You generally can deduct the amount you reimburse your employees for travel and entertainment expenses. Late filing 2011 taxes The reimbursement you deduct and the manner in which you deduct it depend in part on whether you reimburse the expenses under an accountable plan or a nonaccountable plan. Late filing 2011 taxes For details, see chapter 11 in Publication 535. Late filing 2011 taxes That chapter explains accountable and nonaccountable plans and tells you whether to report the reimbursement on your employee's Form W-2, Wage and Tax Statement. Late filing 2011 taxes Business Use of Your Home To deduct expenses related to the part of your home used for business, you must meet specific requirements. Late filing 2011 taxes Even then, your deduction may be limited. Late filing 2011 taxes To qualify to claim expenses for business use of your home, you must meet the following tests. Late filing 2011 taxes Your use of the business part of your home must be: Exclusive (however, see Exceptions to exclusive use , later), Regular, For your business, and The business part of your home must be one of the following: Your principal place of business (defined later), A place where you meet or deal with patients, clients, or customers in the normal course of your business, or A separate structure (not attached to your home) you use in connection with your business. Late filing 2011 taxes Exclusive use. Late filing 2011 taxes   To qualify under the exclusive use test, you must use a specific area of your home only for your trade or business. Late filing 2011 taxes The area used for business can be a room or other separately identifiable space. Late filing 2011 taxes The space does not need to be marked off by a permanent partition. Late filing 2011 taxes   You do not meet the requirements of the exclusive use test if you use the area in question both for business and for personal purposes. Late filing 2011 taxes Example. Late filing 2011 taxes You are an attorney and use a den in your home to write legal briefs and prepare clients' tax returns. Late filing 2011 taxes Your family also uses the den for recreation. Late filing 2011 taxes The den is not used exclusively in your profession, so you cannot claim a business deduction for its use. Late filing 2011 taxes Exceptions to exclusive use. Late filing 2011 taxes   You do not have to meet the exclusive use test if you use part of your home in either of the following ways. Late filing 2011 taxes For the storage of inventory or product samples. Late filing 2011 taxes As a daycare facility. Late filing 2011 taxes For an explanation of these exceptions, see Publication 587, Business Use of Your Home (Including Use by Daycare Providers). Late filing 2011 taxes Regular use. Late filing 2011 taxes   To qualify under the regular use test, you must use a specific area of your home for business on a continuing basis. Late filing 2011 taxes You do not meet the test if your business use of the area is only occasional or incidental, even if you do not use that area for any other purpose. Late filing 2011 taxes Principal place of business. Late filing 2011 taxes   You can have more than one business location, including your home, for a single trade or business. Late filing 2011 taxes To qualify to deduct the expenses for the business use of your home under the principal place of business test, your home must be your principal place of business for that business. Late filing 2011 taxes To determine your principal place of business, you must consider all the facts and circumstances. Late filing 2011 taxes   Your home office will qualify as your principal place of business for deducting expenses for its use if you meet the following requirements. Late filing 2011 taxes You use it exclusively and regularly for administrative or management activities of your business. Late filing 2011 taxes You have no other fixed location where you conduct substantial administrative or management activities of your business. Late filing 2011 taxes   Alternatively, if you use your home exclusively and regularly for your business, but your home office does not qualify as your principal place of business based on the previous rules, you determine your principal place of business based on the following factors. Late filing 2011 taxes The relative importance of the activities performed at each location. Late filing 2011 taxes If the relative importance factor does not determine your principal place of business, you can also consider the time spent at each location. Late filing 2011 taxes   If, after considering your business locations, your home cannot be identified as your principal place of business, you cannot deduct home office expenses. Late filing 2011 taxes However, for other ways to qualify to deduct home office expenses, see Publication 587. Late filing 2011 taxes Deduction limit. Late filing 2011 taxes   If your gross income from the business use of your home equals or exceeds your total business expenses (including depreciation), you can deduct all your business expenses related to the use of your home. Late filing 2011 taxes If your gross income from the business use is less than your total business expenses, your deduction for certain expenses for the business use of your home is limited. Late filing 2011 taxes   Your deduction of otherwise nondeductible expenses, such as insurance, utilities, and depreciation (with depreciation taken last), allocable to the business is limited to the gross income from the business use of your home minus the sum of the following. Late filing 2011 taxes The business part of expenses you could deduct even if you did not use your home for business (such as mortgage interest, real estate taxes, and casualty and theft losses that are allowable as itemized deductions on Schedule A (Form 1040)). Late filing 2011 taxes The business expenses that relate to the business activity in the home (for example, business phone, supplies, and depreciation on equipment), but not to the use of the home itself. Late filing 2011 taxes Do not include in (2) above your deduction for one-half of your self-employment tax. Late filing 2011 taxes   Use Form 8829, Expenses for Business Use of Your Home, to figure your deduction. Late filing 2011 taxes New simplified method. Late filing 2011 taxes    The IRS now provides a simplified method to determine your expenses for business use of your home. Late filing 2011 taxes The simplified method is an alternative to calculating and substantiating actual expenses. Late filing 2011 taxes In most cases, you will figure your deduction by multiplying $5 by the area of your home used for a qualified business use. Late filing 2011 taxes The area you use to figure your deduction is limited to 300 square feet. Late filing 2011 taxes For more information, see the Instructions for Schedule C. Late filing 2011 taxes More information. Late filing 2011 taxes   For more information on deducting expenses for the business use of your home, see Publication 587. Late filing 2011 taxes Other Expenses You Can Deduct You may also be able to deduct the following expenses. Late filing 2011 taxes See Publication 535 to find out whether you can deduct them. Late filing 2011 taxes Advertising. Late filing 2011 taxes Bank fees. Late filing 2011 taxes Donations to business organizations. Late filing 2011 taxes Education expenses. Late filing 2011 taxes Energy efficient commercial buildings deduction expenses. Late filing 2011 taxes Impairment-related expenses. Late filing 2011 taxes Interview expense allowances. Late filing 2011 taxes Licenses and regulatory fees. Late filing 2011 taxes Moving machinery. Late filing 2011 taxes Outplacement services. Late filing 2011 taxes Penalties and fines you pay for late performance or nonperformance of a contract. Late filing 2011 taxes Repairs that keep your property in a normal efficient operating condition. Late filing 2011 taxes Repayments of income. Late filing 2011 taxes Subscriptions to trade or professional publications. Late filing 2011 taxes Supplies and materials. Late filing 2011 taxes Utilities. Late filing 2011 taxes Expenses You Cannot Deduct You usually cannot deduct the following as business expenses. Late filing 2011 taxes For more information, see Publication 535. Late filing 2011 taxes Bribes and kickbacks. Late filing 2011 taxes Charitable contributions. Late filing 2011 taxes Demolition expenses or losses. Late filing 2011 taxes Dues to business, social, athletic, luncheon, sporting, airline, and hotel clubs. Late filing 2011 taxes Lobbying expenses. Late filing 2011 taxes Penalties and fines you pay to a governmental agency or instrumentality because you broke the law. Late filing 2011 taxes Personal, living, and family expenses. Late filing 2011 taxes Political contributions. Late filing 2011 taxes Repairs that add to the value of your property or significantly increase its life. Late filing 2011 taxes Prev  Up  Next   Home   More Online Publications