Entrepreneur Loses Out on Tax Deductions

A taxpayer who ran several businesses, including a truck oil change business, a multilevel marketing business, a delivery service, and a business relabeling chili (in addition to being a partner in one venture and an employee in another). He wrote off more than $250,000 over 2 years, of which more than $100,000 was from mileage and travel away from home. But the Tax Court denied his deductions because he lacked records and the ones he had didn’t make sense.