With more people working from home, one has to wonder if the home-office deductions on tax returns are out of control or warranted. Will the IRS be scrutinizing home office deductions and what do they look for. In short, will your home office deduction pass in an IRS audit or will it raise red flags?...Continue reading
Q&A: Home-Office Deduction for Orthodontist Question: Bob, an orthodontist, wants to claim a home-office deduction. His employees and contractors do the billing and accounting for his practice. Bob and his wife (who is an employee) do payroll once a month in the home office. Bob’s primary use of the home office is preparing treatment plans...Continue reading
To deduct an office in the home, you must pass the regular-use test, so what is regular use for the home-office deduction? (Side note: this is a re-post of content created in 2011 and references tax cases from the 70's that laid a foundation for determining how to define "regular use" for the home office...Continue reading
Question: Can you deduct a home office if you also have a non-home office? Answer: Yes! As the tax reduction specialists for the self-employed we navigate through the home office deduction issues regularly. We know what the IRS looks for and what you will not get away with. SO let's make sure your tax reduction...Continue reading