- 4 -
replaced the engine in the truck he used in his business. He
also repaired the transmission and brakes, replaced the tires,
and changed the oil in the truck at least once a month.
Mr. Furnish maintained a separate room in his house as his
office. He bought a computer for use in his business. During
the years in issue, Mr. Furnish purchased liability and
compensation insurance for his business.
In 1993, Mr. Furnish hired an accountant, Richard Buckner.
Mr. Buckner advised Mr. Furnish on what he needed to do for tax
purposes. During the years in issue, Mr. Furnish gave all his
records to Mr. Buckner, and Mr. Buckner prepared Mr. Furnish’s
Federal income tax returns for 1993, 1994, and 1995. Mr. Furnish
also gave Forms 1099 to his crew based on the information given
to him by each of them. He also filed copies of the Forms 1099
with the Internal Revenue Service (IRS).
Mr. Furnish filed his Federal income tax returns for 1993,
1994, and 1995 on August 23, 1995, April 15, 1995, and April 15,
1996, respectively. Mr. Furnish reported the following expenses
on his Schedules C:3
3 For convenience, some figures have been rounded to the
nearest dollar.
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