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 Tips: Tax Deductible Home Office in Your Vacation Home.
Three ways our fact-filled article can help you:
- We’ll explain the “Regular and Exclusive Use” rule. This rule, like many from the IRS, can be a bit complicated, but don’t worry. We’ve gone through the fine print and will explain everything in easy-to-understand language. You’ll get this important information when you read the full article.
- We’ll explain the “Qualified Business Activity” rule. If you satisfy the exclusive and regular use requirement, you’ll still have one hurdle to overcome. Your exclusive and regular use of each office must be for a qualified business activity. Three main activities qualify and we’ll spell them out for you when you read the full article.
- You’ll learn how to handle an office in a separate structure. Good news! You can qualify for the home-office deduction even if you use a separate freestanding structure, like a studio, garage, or barn, “in connection with” your business. But there are rules you need to know about and we’ll explain them when you read the full article.