Most of these blogs are helpful hints to think through financial issues that impact you. This one is not that applicable to most readers. It’s certainly not political, but may give food for thought about the negotiations that go into tax legislation. As the national debt limit is being debated, there’s governmental discussion over tax cuts and tax increases as opposed to tax reform. The tax code is certainly more complicated than it should be, as are other government funding issues. Some of the most simple solutions may never get serious consideration because they are, in fact, so simple. Here …Read More
The rules for benefiting from the home office deduction are complex, but this shouldn't discourage taxpayers entitled to the deduction from using it.
Who qualifies for the home office deduction?
For starters, there are only two types of work status that might qualify you for the deduction:
Working at home for the convenience of your employer. In order to qualify with this status, you’ll need to be able to prove that you aren’t just working at home because you want to. For example, if you have no workspace at your employer’s business location, that would strengthen your claim.…Read More