Relevant Facts: The situation involving Herbert Rain is showing the challenges he is facing with his tax situation. This is because he plays professional football for six months out of the year in New York. During the offseason, he relocates to Florida and works as a physical therapist. Herbert has a drivers license in New York and is registered to vote in the state. These conclusions are showing how he is New York resident. Under the law, anyone who has a drivers license and is registered to vote in a specific state are considered to be a resident. These facts are useful, as Herbert may be able to take certain deductions for operating his other business in the offseason. Although he may not deduct the living expenses, there are other costs which can be written off on his taxes. (Bankman)
Specific Issues: The specific issues are associated with the amount of write offs from the physical therapy businesses. This is because Herbert will travel to Florida during the offseason. Second, he has not established permanent residency in the state and rents an apartment to live in while he is there. These areas are establishing the fact that some kind of write offs can be utilized to offset his travel and living expenses up to a certain point. In this case, he can deduct the travel expenses by meeting several different criteria to include: (1) the new job is temporary, (2) the person maintains a residence in the vicinity of their principal business, (3) they incur additional living expenses while away from home and (4) the travel is for business rather than personal reasons. Each one of these is showing how Herbert qualifies for the deductions of his travel expenses to Florida. This is because his physical therapy position is temporary. As he keeps a business in the state, but is not resident. There are additional living expenses Herbert will incur while he is away from home. Lastly, he is traveling for business vs. personal reasons. The combination of these factors qualify him for the deduction of certain travel expenses. Under the IRS Code, they consider a variety of factors to determine if this is a legitimate expense. The most notable include: (1) the total time spent at each post, (2) the degree business activity in each area and (3) the proportion of business and income generated at each business site. They will also look at a number of secondary factors to include: (1) whether the taxpayer performs some of their business in the vicinity of his claimed residence and uses it while performing the business there, (2) whether the taxpayer’s living expenses are duplicated because business requires them to be away from their claimed residence and (3) whether the taxpayer has not abandoned the vicinity of his claimed abode, has family members living there, or uses the claimed abode frequently for lodging. (Reilly) These insights are showing that Herbert has a secondary location that is used for performing physical therapy. The result is that his travel expenses to Florida and certain amounts of living costs can be written off. However, they must be directly related to his costs of running the business. If these standards are met, the liabilities for certain activities will qualify. (Bankman)
Conclusions: Herbert is able to write off the expenses for running his physical therapy business in Florida during the offseason. This is because he is resident of New York and will incur added costs in traveling to and running the organization. To qualify, he needs to demonstrate that they are legitimate business expenses. Once this happens, is the point can offset the costs up to a certain point. (Bankman)
Authorities and Support: Evidence of this can be seen with the IRS Code saying, ” A taxpayer satisfying all three tests can treat his residence as his tax home and can deduct travel expenses while away from the home. If only two tests can be met, the case is subject to a facts and circumstances evaluation of the tax home. If only one test can be met, he is considered an itinerant whose tax home is wherever he is working and, therefore, he cannot deduct any business travel expenses. In addition to satisfying the above tests, IRS regulations require taxpayers to substantiate their travel expenses. In general, taxpayers must maintain documentary evidence (such as receipts) for all lodging expenses and, all travel expenses of $75 or more.” (Reilly) These insights are showing how Herbert qualifies for certain deductions and write offs related to his physical therapy business in Florida.
Bankman, Joseph. Federal Income Tax. Frederick: Aspen Publishers, 2009. Print.
Reilly, John. “Special Articles.” IRS, 2015. Web. 27 Apr. 2015.
Get Professional Assignment Help Cheaply
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Why Choose Our Academic Writing Service?
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently
Online Academic Help With Different Subjects
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
What discipline/subjects do you deal in?
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Are your writers competent enough to handle my paper?
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
What if I don’t like the paper?
There is a very low likelihood that you won’t like the paper.
- When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
- We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.
In the event that you don’t like your paper:
- The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
- We will have a different writer write the paper from scratch.
- Last resort, if the above does not work, we will refund your money.
Will the professor find out I didn’t write the paper myself?
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
What if the paper is plagiarized?
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
When will I get my paper?
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
Will anyone find out that I used your services?
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
How our Assignment Help Service Works
1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
3. Track the progress
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
4. Download the paper
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!