Traveling for Work – Deductible Business Expenses

Business travel can be an expensive and time-consuming activity for both the employer and employee. It also can create tax headaches for all involved unless the rules are followed properly. If it’s done right, business travel will be fully deductible … read more

Minnesota CPAs’ List of Outrageous Tax Deductions

For some reason CPAs are not known for a great sense of humor. So it’s refreshing to see the Minnesota Society of Certified Public Accountants (MNCPA) release an annual list of the most outrageous tax deductions clients tried to take … read more

Home Interest Deduction – Even When It’s Not in Your Name

There are various circumstances where a taxpayer could be making payments on a mortgage, but not hold legal title to the property. One example could be, the child of a taxpayer that could not obtain financing, so mom and dad … read more

Can I Get a Deduction for My New Year’s Resolutions?

January is here again. If you’re anything like me, you’re setting a goal – again – to drop some pounds and commit to a healthier lifestyle in the New Year. Can we hope for a tax deduction to increase our … read more

Substantiating Non-Cash Charitable Contributions

Giving to charity can be very rewarding. It not only helps the community but can also provide a benefit on one’s tax return. Charitable donations are reported on Schedule A in itemized deductions on an individual’s tax return. The following … read more

Deducting the iPhone 6

Sleeker design, a bigger display, faster performance, an upgraded camera, longer battery life, third-party keyboard support, Touch ID, and Apple Pay. The iPhone 6 sounds pretty great. If you use a cell phone for business, should you rush out and … read more

Deducting Moving Expenses

One of the most common reasons for packing up and making a move is for career purposes. Moving and career changes are also both typically found in psychological studies to be among the most stressful of life events. But don’t … read more

Establishing that Debt is Bona Fide Debt

Recently, there have been a number of cases disallowing bad debt deductions, particularly for loans to shareholders and related parties. If a related party loan becomes worthless, it is treated no differently from a debt to an unrelated party. Of … read more

Deducting Job Hunting Expenses

If you’ve found yourself making career changes this year, you may be able to deduct some of the job hunting expenses that you incurred on your next tax return. Deductible job search costs can include: Resumé costs – any expenses … read more

When Mortgage Interest May Not be Deductible

We all assume that we can deduct interest paid on our personal residence, but that is not always the case. Personal versus business interest generally is not deductible. Section 163(h) prohibits an individual taxpayer from claiming a deduction for personal … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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