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.
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
