The IRS has provided real estate owners with a juicy tax
deduction. The de minimis safe harbor election is an annual tax return election
that permits a taxpayer to deduct, as ordinary and necessary business expenses,
purchases of items that would normally have to be capitalized. Yet this
advantageous election is often overlooked by taxpayers. This article will
discuss the de minimis safe harbor election and its requirements.
With Uber, Lyft, and many other companies that provide many
different services and products, the norm these days seems to be independent
contractors. The companies avoid the huge taxes, expenses, and liabilities of
having employees. The workers get the freedom to work on their own, managing
their own schedules. One of the great unanswered questions, of course, is how
much control is too much for independent contractors, without making them
employees. Many lawsuits brought by workers and by third parties are about this
very question. 
