If you’re claiming the home-office deduction and are planning to sell your home, I’ve got good news for you. Thanks to the principal-residence tax-free exclusion and the “1031 exchange” you can avoid taxes on the sale of your home. What’s more, you can enhance your deductions on your replacement home! Want to get the whole story? Check out my new article titled Tax … [Read more...]
Home Office
Sorted by Date
How to get multiple home-office deductions
Did you know that if you follow IRS rules, you can claim: A tax-deductible office downtown A tax-deductible office in your own home Plus a tax-deductible office in your vacation home! That’s right. The law allows you to deduct multiple offices if you meet certain requirements. What are they? You’ll find out when you read my new, information-packed article titled Tax … [Read more...]
Best Home-Office Deduction for S or C Corporation
Do you own an S or C corporation? If the answer is “yes,” and you want to claim a tax deduction for an office in your home, my new article is for you! You see, there are three ways to claim the deduction and I’ll explain which one you should choose. Selecting the wrong method can prove costly, so don’t miss my new article titled Tax Tips: The One Best Way to Claim a … [Read more...]
Important facts about the home-office deduction
The IRS can be quite picky when it comes to allowing home-office deductions. For example, they require exclusive business use of the area of your home that you’re claiming as an office. Under the IRS’s strict standards, how much and what kinds of personal use does the law allow? You’ll find out when you read my latest article titled Tax Tips: Home-Office Deduction Requires … [Read more...]
When to claim your garage as home-office space
Do you claim a deduction for an office in your home? What about your garage? Yes. I know it’s surprising, but if you comply with IRS regulations, you may be able to include your garage, or part of it, when you calculate your business-use percentage. You’ll get the details when you check out my new article titled Tax Tips: Can Home Office Tax Deductions include Garage … [Read more...]