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.
Seventy-four employees will be affected by the store closure. They will be eligible to receive severance have the opportunity to apply for open positions at area Sears and Kmart stores. It is the only Kmart closing in New Jersey. Store closures are part of a series of actions we're taking to reduce on-going expenses, adjust our asset base, and accelerate the transformation of our business model, said Howard Riefs, spokesman for Sears Holdings Corporation, which owns Kmart.