If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. Refer to Home Office Deduction and Publication 587, Business Use of Your Home, for more information.
CVS closing 200 stores. In an effort to restore long-term, double-digit earnings, drug store retailer CVS Corp. announced that it plans to close 200 of its 4,100 stores, close its North Carolina distribution center and improve its in-store service.
JCPenney is closing stores.AP. JCPenney has released a list of 138 stores it will close in the next couple of months because of slowing traffic and sales. The stores represent about 14% of the company's locations, but account for just 5% of its sales. About 5,000 employees will lose their jobs as a result of the closures.