Working at Home? Don’t Overlook These Deductions

I want you to convert.

No. Not your religion!

I want you to convert your working-at-home personal assets into business assets. Why?

Here’s the story…

If you have a deductible office at home (or a non-deductible working space), you’ve got personal assets just sitting there.

I’m talking about chairs, desks, antique clocks, and the like. But if you’re using those personal assets for business purposes, you should know that they can be converted into valuable business deductions!

Sadly, many business owners don’t know this fact.

Don’t be one of them.

You’ll get the whole story and learn how the conversion-deduction can go to work for YOU when you read the full article titled Tax Tips: Working at Home? Don’t Overlook These Deductions.

Three ways our fact-filled article can help you:

1. Let’s say you’re using an expensive chair for business purposes 85% of the time. If you are, you can depreciate 85% of the lower of the chair’s cost or fair market value the moment you put it into use for business purposes! We’ll explain all this in detail when you read the full article.
2. We’ll tell you why “bonus depreciation” is a whole different ball game. If you acquire personal use property after September 27, 2017, and then convert it to business use this year (or any time before 2027), be aware. You likely have to use 100% bonus depreciation if you don’t elect out of it. You’ll get the whole story when you read the full article.
3. You’ll learn how to make an important calculation. There’s a trick to determining the “basis” when you sell converted property. You see, you use a different rule for calculating losses than you do for calculating gains. How do you go about doing this? It’s pretty easy as you’ll learn when you read this full article.