2 results for tag: Home-Office Deduction
Don’t Rob Yourself of the Home Internet Deduction
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 ...
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) ...