With the proliferation of telecommuting, home offices are now so common that claiming it on your taxes is no longer complicated and subject to IRS scrutiny. Under the “safe harbor” option you can deduct, based on square footage of your home office, $5 per square foot (up to a maximum of $1,500). The space must be your principal place of business and used exclusively for business purposes. Sorry, the guest room where your mother-in-law stays and where you happen to have a desk you use to work remotely every other Friday, doesn’t qualify.
As we approach the end of the year, it’s a good time to think about…
Whether you've invested in Bitcoin and sold it at a profit or loss or received…
A well kept secret found in the Tax Cuts and Jobs Act of 2017 is…
If you have to travel as part of being self-employed, you know traveling costs can…
Maximize Your Retirement Account Contributions Now is the time to maximize contributions to your retirement…
This website uses cookies.
