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Old 12-20-2002, 03:08 PM
MAC MAC is offline
Hummer Authority
 
Join Date: Nov 2002
Location: The Peninsula, California, USA
Posts: 1,415
MAC is off the scale
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Weight is based on gross weight of 8600 Ibs.
The deduction adds to your loss, your current year loss can be carry over to future years. That is if you intend to make money in the future years.

Every tax case is different, in my case I have been audited 4 years in a roll several years back, each time last months with IRS agent stationed in a office we gave him in my bldg. completed with his own laptop. I almost thought he was my employee. The MAIN point here is that they never checked auto log or expense receipts as conventional wisdom indicated. They mainly traced money flow in and out of all accounts, origin/reason/where it went, they tried to find unreported income or cash. All cases are different. Didn't bother me that much, I always follow the laws and rules, and all turned out clean and good.
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