Sign up for our FREE Monthly Email Newsletter
In addition to keeping in the financial know, you may be interested in checking your credit score and report.
¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.
²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.
³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.
4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.
Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.
The Internet, satellite communications, and WiFi. Cozy laptops, iPads, and other portable devices. These things make it so easy to work or run your business from anywhere. One of TaxMama’s favorite sayings is that her students can attend her classes from anywhere on or off the planet—even the International Space Station—as long as there is an Internet connection. But what about paying taxes?
Lots of people have hit the road. Some spend the year driving around with their families, homeschooling their children and giving them a real taste of the world. Others have given up the high cost of stationary living and gone mobile.
For example, Jerry sold his home and now travels around in his 18-foot RV. It’s small enough for him to park anywhere without his having to pay rent in an RV park. When the mood strikes, Jerry chooses to use a luxury RV park, a motel, or even a five-star hotel.
Jerry communicates with friends, family, and clients by email, Skype, and cell phone. He can view and pay all his bills online. When snail mail arrives, his mailbox service forwards it to him or scans it for him. When he needs to meet with several people at once, Jerry uses a free or paid online conference service. He can record the entire session for later review or to sell as a course.
Being on the road all the time, Jerry must have a whopping travel expense, right? Not right. In fact, Jerry’s travel expense deduction is zero.
Jerry and people like him have no tax home. This is a common problem for long-haul truckers, seamen, and others in the transportation industry because to deduct the cost of meals and lodging when you travel, you must travel from someplace—a tax home.
The main things the IRS considers when determining your tax home
Which travelers can win the tax home game?
Folks who are smart enough to minimize their home base expenses, to earn income at home, and to hit the road a substantial part of the year can win at this game.
Use your tax home address or location for your online business. Your income will be generated at that address. That means that when you are traveling for business, you have a base.
Since you won’t be there often, select a tax home in a state without income taxes. Rent a room from a friend you can trust to receive your mail and forward it to you. Spend time there every month or so, working and earning money.
Want to have some fun while learning more about this topic? Visit the Tax Court website’s search page. Enter “tax home” into the search field and then read the cases at random. They are much more entertaining than you’d expect.
Eva Rosenberg, EA is the publisher of TaxMama.com , where your tax questions are answered. Eva is the author of several books and ebooks, including the new edition of Small Business Taxes Made Easy. Eva teaches a tax pro course at IRSExams.com and tax courses you might enjoy at http://www.cpelink.com/teamtaxmama.
The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.
Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.