The home office deduction allows qualified taxpayers to deduct certain home expenses when they file taxes. But it's fraught with confusion. To claim the home office deduction on your tax return, you must exclusively and regularly use part of your home or a separate structure on your property as your primary place of business. You probably still have doubts about how to do this without sounding the audit alarms. Let's look more closely to see if you can claim the home office deduction:
How to qualify
Know that if you take advantage of the deduction, the burden of being able to provide proof is on you, so if you're audited, you will have to back up your claim with the IRS. Keep track of all of your expenses. And as this is just an introduction to a complex topic, it is wise to seek advice from a qualified tax professional. Comments are closed.
|
Newsletter articles are posted every 2 weeks. If you would like to have our e-newsletter delivered directly to your inbox, please sign up. Your information is confidential; you can unsubscribe at any time. Subscribe. Categories
All
|