Page 30 - Credits & Deductions
P. 30
Ded u c t in g b u s in es s
ex p en s es
Understand the different types of business expenses, w hat is
deductible and the general rules for deducting expenses.
Ab u s iv e t a x s h el t er s a n d
t r a n s a c t io n s
The internal Revenue Service has a comprehensive
strategy in place to combat abusive tax shelters and
transactions. This strategy guidance on abusive
transactions, regulations governing tax shelters, a
hotline for taxpayers to use to report abusive technical
transactions, and enforcement activity against abusive
tax shelter promoters and investors
