Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo
Given the connected nature of remote work these days, you likely use your home internet to do a little or a lot of work.
In this article, you will learn how to deduct the cost of your home internet. The rules that apply to the home internet also apply to all the other expenses incurred while working at home, regardless of whether you claim the Home-Ofﬁce Deduction.
Deduction on Schedule C
If you operate your business as a sole proprietorship or as a single-member LLC, you ﬁle a Schedule C to report your ...
Can you ever imagine that the IRS could ever be wrong? If the IRS were wrong, what would be your strategy?
You use the ofﬁce in your home as the administrative ofﬁce for your business.
You use your downtown ofﬁce as your sales or patient ofﬁce. The downtown ofﬁce is the ofﬁce location where you make the cash register ring.
What percentage of your gross income comes from the ofﬁce in your home? Why do you need to know this?
Because the IRS Says...
Pub. 587: In its home-ofﬁce publication, the IRS says that because (a) part of your gross business income comes from your home ofﬁce, and (b) ...