It should come as no shock that the IRS isn’t perfect. So what happens when they screw up and their error costs you money? In my new article I’ll tell you how the IRS made just such an error in their publications and instructions — an error that concerns the gross-income limit that applies when you want to claim the home-office deduction and have more than one place of … [Read more...]
Home Office
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Who’s afraid of the big, bad, home-office deduction?
Are you reluctant to claim a home-office deduction because you have a business located elsewhere? Or are you afraid that claiming the deduction will raise a red flag at the IRS and result in an audit? Well, stop worrying! If you follow the law you’ll stay in Uncle Sam’s good graces and enjoy a nice, fat deduction. You’ll get all the facts and start saving money when you … [Read more...]
How the IRS turns “Home Sweet Home” sour
“Home Sweet Home” is not a simple concept for the IRS. Nope. They delight in creating complications. Which is why they make the troublesome distinction between your “personal home” and your “tax home.” Depending on how you operate your business and where it’s located, you risk losing your valuable business vehicle deductions! Want to avoid crashing your business-vehicle … [Read more...]
A new way to calculate your home office deduction
If you’re claiming a home-office deduction, you know what pain is. You have to calculate, allocate, and prove all your home-office expenses to Uncle Sam’s satisfaction. But starting on January 1, 2013 the IRS began offering you an optional way to simplify the process and avoid jumping through all those hoops. Want to know if the new method for claiming a home-office … [Read more...]
How to claim a home-office deduction and keep your outside office too
Do you believe the following statement?… “A home office is not deductible unless it’s your only place of business.” Don’t believe it! It’s a myth! That’s right. If you play by Uncle Sam’s rules, you can claim a valuable home-office deduction even though you have a regular office outside your home. Want to find out how you can save a lot of money by handling your … [Read more...]