Jeffrey M. Rosenblum, P.C.
A Fresh Start

Posts tagged "business owner"

Reminder To Home-Based Businesses: Simplified Option for Claiming Home Office Deduction Now Available; May Deduct up to $1,500

The Internal Revenue Service today reminded people with home-based businesses that this year for the first time they can choose a new simplified option for claiming the deduction for business use of a home.The new optional deduction, capped at $1,500 per year based on $5 a square foot for up to 300 square feet, will reduce the paperwork and recordkeeping burden on small businesses by an estimated 1.6 million hours annually.

New York hospital plans to return to health through bankruptcy

When businesses get stuck in debt that they cannot repay, the repercussions can be devastating to a whole community. The purpose behind Chapter 11 bankruptcy protection is not just to protect the business owners but it also helps to protect the entire community.