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In this section we present you with short newsletters containing
timely and useful information. |
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Home Office Deduction |
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The rules for claiming the home-office deduction keep changing. Here
are the latest provisions you need to be aware of. |
A recent change in the law will allow more consultants, salespeople
and other self-employed workers to deduct home office expenses. Need
for a change was obvious when a 1993 Supreme Court decision denied a
deduction for the home office expenses of a doctor who worked at
several hospitals, none of which provided him with office space.
The Supreme Court refused to let him deduct his home-office expenses
because it decided that his "principal place of business" was in the
hospitals, not at home. After Congress changed the law, that doctor
would qualify for the home-office deduction. So can you if you do
your administrative or management work at home and have no other
office, even though you provide services or see customers away from
the home office.
We can explain the rules allowing you to deduct the expenses of an
office in your home as ordinary and necessary expenses of your
business. We know what documentation you need and what forms to file
with your tax return to claim this important tax benefit. Just
Contact Us.
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