One of the basic truths for any taxpayer wanting to claim a deduction for business use of the home is, the office area must be used 100% for business purposes. And 100% business use means 100%. But is that really always true?
The general rule with home office deductions is that the deduction cannot generate a business loss. But there’s an exception to this rule.
It’s a holiday week, so I’m re-posting popular stories from the past. This blog post from more than 4 years ago is one of the most popular posts I’ve ever written. —– Originally published July 30, 2011 A question that comes up frequently from people with home-based businesses is if they can deduct mileage driven […]
Employees can take a home office deduction but there are hurdles to clear. Some tax preparers don’t seem to understand this.
Home Office Deduction: IRS Offers a Simplified Calculation Option, But the Qualifying Rules Haven’t Changed
A new wrinkle has been added to the calculation of the home-office deduction, but the rules to qualify for the deduction have not changed.
Note: I wrote this post in 2012, so be aware of its age. However, the content in this post is still accurate and applicable all these years later. —– Kay Bell at the Don’t Mess with Taxes blog reminds us that there can be an unexpected, negative tax consequence to taking the home office deduction […]