1 result for tag: Income Limit


IRS Income Limit Mistake on Home Office Deduction

Can you ever imagine that the IRS could ever be wrong? If the IRS were wrong, what would be your strategy? Situation 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. Questions 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) ...