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Phillip B, EA
Phillip B, EA, Enrolled Agent
Category: Tax
Satisfied Customers: 704
Experience:  Practicing since 2004. Expert in 1040, small business, represent vs. IRS, & int'l tax mattters.
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If you buy commercial property, and run a business from it.

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If you buy commercial property, and run a business from it. what is you tax responsibility?
Thanks for using! I will do my best to provide you with a clear and concise answer to your tax question based on the information that you have provided.

If you are running a business, your tax responsibility is to accurately report your gross income and deductible business expenses of that business on your tax return and to pay all the income, self-employment, and employment (if any) taxes associated with that business.

IRS Pub 535 -- Business Expenses:
IRS Pub 334 -- Tax Guide for Small Business:

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