N
novelgoods
Guest
Dear Sir,
I am using TurboTax to prepare my taxes this year and have two questions I am wondering if you can help me with.
1.I am 73 live in Indiana and have a web page that I made some substantial income on this year. I operate this business out of a spare bedroom. The program tells me that I can invest in a Keogh, SEP or Simple plan and save taxes. Because of my age am I still eligible? Which plan is best for a person my age?
2.I have a second web site that I operate out of the basement of my home. I had little activity on this business and tried to see if it qualified for a home office deduction. The program said it did and is asking for the same information I used on the first business. My question is; is it lawful to have two home office deductions for two different businesses in the same home?
Thank you
I am using TurboTax to prepare my taxes this year and have two questions I am wondering if you can help me with.
1.I am 73 live in Indiana and have a web page that I made some substantial income on this year. I operate this business out of a spare bedroom. The program tells me that I can invest in a Keogh, SEP or Simple plan and save taxes. Because of my age am I still eligible? Which plan is best for a person my age?
2.I have a second web site that I operate out of the basement of my home. I had little activity on this business and tried to see if it qualified for a home office deduction. The program said it did and is asking for the same information I used on the first business. My question is; is it lawful to have two home office deductions for two different businesses in the same home?
Thank you