The home office tax deduction can be tricky question and there is no short explanation. When you have your own business, there are many deductions that are cut and dry. This one is not. And there’s an IRS take back on this one if you use the original method. Most taxpayers are unaware of this, and it can cost quite a bit in future taxes. Please note that this applies to homeowners. Tenants need not be concerned about the issue emphasized here. Who Qualifies for Home Office Deduction Some people have one room in their home that is exclusively used for their business. Their computer in that room is… Read More
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