Now, Fleetwood Mac's Stevie Nicks can't stop thinkin' about yesterday -- because the IRS won't let her.
On her 1991 tax return, Nicks, whose band's '70s hit "Don't Stop (Thinking About Tomorrow)" became a Clinton Administration anthem, deducted $60,160 in expenses for a home office in her Arizona resid Nicks, who declined to speak with MONEY, is currently fighting an uphill battle against the feds in tax court. Based on my experience as a tax lawyer and forer IRS audit group manager, here's what N In order to keep the write-offs, Nicks must first prove that the home office was her "principle place of business." That will be difficult, since the IRS believes a musician's work is done mainly in Nicks must also show that her home office was used "regularly and exclusively" for business. That argument could fall flat, especialy for the write-offs attributed to the "outdoor portions" of her h My advice to Stevie and you: In order to write off a legitimate home office, keep a separate business phone line there and take photographs to show that you have no personal items in this part of your office.
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