- 3 - Petitioner did not have a separate office to conduct his consulting activity. Rather, petitioner asserts that he met clients at restaurants and that he used space in his home to prepare client presentations and to perform administrative tasks. Petitioner further contends that he rented space to store the activity's records. Petitioner failed to present the records at trial. Instead, petitioner testified that he has discarded the activity's records. Petitioner did not maintain a separate business telephone line or a separate business bank account. On the Schedule C attached to his 1996 Federal income tax return, petitioner listed his business activity as "Instructor". For 1996, petitioner reported gross receipts for the consulting activity in the amount of $1,563 and claimed the following deductions: Expenses Advertising $650 Car & truck 7,327 Depreciation 6,201 Legal & prof. services 275 Office expense 773 Repairs & maintenance 529 Supplies 27 Travel 1,511 50% meals & entertainment 2,101 Business gifts 203 Cleaning 138 Demos, training 507 Dues, publications 473 Educational supp. 150 Field accommodations 175 Incentive/awards 425 Postage 102 Storage 1,249Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011