Do you work from home? Whether or not you have a deductible office in the home, the assets such as desks and chairs that you use for business are deductible—and are often overlooked as business deductions. Whether you claim a business office in the home or are simply...
With the start of a new tax year, you’re probably looking for new tax savings opportunities. As you probably know, establishing a home office for your Schedule C or corporate business creates valuable tax deductions. But it’s not available only for your...
You have probably read that the home-office deduction increases your chances of IRS audit. We’ve read that, too, but we don’t believe it. Regardless, there are a few things you can do to make your home office less likely to ever appear in an audit. If you filed your...
Over the years, we’ve come across many small-business owners and tax advisors who believe that a home office is not deductible unless it’s the only place of business. The IRS says “you can have more than one business location, including your home for a single...
Why is the home-office deduction so important? Is it really that different from other business deductions? The answer is YES! Two Reasons There are two reasons why this deduction is important for every single business owner and is in a class of its own:1. It’s...
