Sometimes IRS rulings are clear and easy to follow.
But when it comes to claiming a home-office deduction in connection with your rental properties, you’re entering (play spooky music) the twilight zone.
You see, in order to successfully claim the home-office deduction you really have to know the ins and outs of the law.
Luckily for you, we do. And we’ll tell you how to handle all the details the right way when you read my new article titled Tax Tips: Claim a Home-Office Deduction for Your Rental Property Business—But Be Prepared to Meet IRS “Gray Area” Requirements.
Three ways our fact-filled article can help you:
- We’ll explain a vitally important IRS requirement. The law states that you can only claim the home-office deduction in connection with “a trade or business.” So how do you prove that your rental property activities meet the test? We’ll provide you with a winning strategy when you read the full article.
- You’ll learn what case law has decided. One key point: To get your deduction, you have to show that you participate in your rental property business on “a systematic and continuous basis.” We’ll give you all the details when you read the full article.
- We’ll show you how to escape self-employment taxes. This is important because the self-employment tax can be as high as 14.13% of the net income from the business! We’ll show you how to legally avoid the tax when you read the full article.