More than one ac­tiv­ity or busi­ness?

Antelope Valley Press (Sunday) - - Business -

Owners whose busi­nesses in­volve

ava­ri­ety of ac­tiv­i­ties may find that in­come from some qual­ify for the de­duc­tion while oth­ers don’t, says An­gela Dotson, a CPA with Aprio in At­lanta. An op­tometrist who treats pa­tients may not be able to claim the de­duc­tion for that work. But the same op­tometrist who also sells eye­glasses and con­tact lenses may be able to use the de­duc­tion for that in­come.

An­other ex­am­ple: A graphic de­signer who con­sults with clients but also cre­ates web­sites. “You’re con­sult­ing, but also sell­ing a prod­uct,” Ber­dahl notes.

There might be some un­pleas­ant sur­prises when owners in such sit­u­a­tions get to their CPA’S of­fices. The new law re­quires sep­a­rate records for the dif­fer­ent types of work.

“They might find their books may not be in good shape for tax re­form — they may not show the data CPAS will need to know,” Dotson says. In that case, ei­ther the owner has to go back and change

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