Posts Tagged "Home Office Deduction"


With the COVID-19 pandemic still going on, you may be spending more time working from your home office. You may have taken some extra rooms for your business use. Is that okay? Section 280A(c) states that you may claim a home office based on the portion of the dwelling that you use exclusively and regularly for business. Thus, the law dictates no specific number of rooms or particulars regarding the size of the office. The courts make...

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Whether you claim a business office in the home or are simply working at home, say because of COVID-19, you likely have some former personal assets that you now use for business.   Ah, new tax deductions!   Yep. Say you don’t claim a home-office deduction but now you are working at home and sitting in the fancy chair you inherited from your grandmother.   Let’s say you use the fancy chair 85 percent for business purposes. Can you...

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  You likely know that the home-office tax deduction provides tax savings to business owners. It turns otherwise nondeductible personal expenses into valuable business deductions. When you operate your business as a proprietorship, you simply deduct home-office expenses on Schedule C. But when you operate your business as an S corporation, you face special rules to achieve the same benefits.   Two Methods That Fail   1....

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Before you decide to rent a room in your home to your corporation, read along to avoid a huge and costly mistake. If you operate your business as a corporation and you have a legitimate office in the home, you have three basic ways to claim the deduction. Doing it wrong produces zero dollar benefit from the office in the home and, in addition, can dramatically reduce vehicle deductions. Business owners with an office in the home...

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