by Pedro Gonzalez, CPA | Nov 11, 2020 | Tax Strategies
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...
by Pedro Gonzalez, CPA | Aug 7, 2020 | Tax Strategies
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...
by Pedro Gonzalez, CPA | Mar 16, 2017 | Tax, Tax Planning & Preparation
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...
by Pedro Gonzalez, CPA | Dec 16, 2016 | Tax Strategies
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...
