Here is my situation. I currently own a heating and cooling business here in Indianapolis. I'm thinking about opening one in Sarasota, Florida. My plan is to work in both places. My wife and I currently rent a condominium here in Indy and we plan on renting one in Sarasota. Of course, I would be in Florida when the weather is bad here. What will I be able to write off if I live and work in both places? I would like to deduct all of the costs (rent, transportation to and from, meals, etc.). Explain to me about Facts Issue Analysis Conclusion??
Here is my situation. I currently own a heating and cooling business here in Indianapolis. I'm thinking about opening one in Sarasota, Florida. My plan is to work in both places. My wife and I currently rent a condominium here in Indy and we plan on renting one in Sarasota. Of course, I would be in Florida when the weather is bad here. What will I be able to write off if I live and work in both places? I would like to deduct all of the costs (rent, transportation to and from, meals, etc.). Explain to me about Facts Issue Analysis Conclusion??
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Here is my situation. I currently own a heating and cooling business here in Indianapolis. I'm thinking about opening one in Sarasota, Florida. My plan is to work in both places. My wife and I currently rent a condominium here in Indy and we plan on renting one in Sarasota. Of course, I would be in Florida when the weather is bad here. What will I be able to write off if I live and work in both places? I would like to deduct all of the costs (rent, transportation to and from, meals, etc.).
Explain to me about
Facts
Issue
Analysis
Conclusion??
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