When you hear the words "home office deduction," what do you picture? Probably a spare bedroom with a desk, computer, filing cabinets and a door you can close. But what if you don't have a spare bedroom? Maybe you live in an apartment, condo or smaller house where every room already has a purpose. Does...Continue reading
Can My Spouse Use My Home Office and Still Qualify for the Deduction? You have a legitimate home office that you use to run your business. Then your spouse sits down at your desk to pay some personal bills. Or maybe your spouse works from home occasionally and uses your office. Perhaps you have a...Continue reading
One of the biggest misconceptions about the home office deduction is that you need an entire spare bedroom dedicated exclusively to your business. Fortunately, that's simply not true. If you're self-employed or own a small business, your home office may qualify even if it's much smaller than you imagine. In fact, the IRS and the...Continue reading
If you’ve been taking the home office deduction, you may have heard something like this: “Don’t take depreciation—it’ll come back to bite you when you sell your house.” It sounds logical. Nobody likes the idea of paying taxes later. But here’s the problem… skipping home office depreciation can actually cost you more than it saves. Let’s walk through...Continue reading
If you're self-employed, you've probably asked yourself at some point: “Can I write off my work clothing?” It seems like a reasonable question—especially if you're buying clothes specifically for your job. But when it comes to taxes, this is one of those areas where the rules are stricter than most people expect. Let’s walk through what actually...Continue reading
Dog breeders often don’t realize how aggressively the IRS treats breeding activity. Under current tax law, dog breeding is frequently classified as a hobby, not a business — and that distinction can dramatically change your tax outcome. If the IRS considers your dog breeding a hobby, your income is still taxable, but most of your...Continue reading