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Home Office Deduction

If you use part of your home exclusively and regularly for conducting business you may be able to deduct expenses such as mortgage interest...

The short answer is probably not. If youre one of the millions of workers whose home is now doubling as office space due to COVID-19 you ma...

Thus employees may not claim a home office deduction for these years. The home office deduction allows you to deduct a portion of the cost ...

The number of people who work from home exploded in 2020 because of the COVID-19 pandemic. Mortgage interest real estate taxes. Home Offi...

It isnt limited to homeowners its also available to renters and people who live in apartments condos and any other type of home. With more ...

You deduct 5 for every square foot of your home office. Mortgage interest and real estate taxes. The Home Office Tax Deduction Explained ...

With either method the qualification for the home office deduction is determined each year. Regular and Exclusive Use. How To Take A Home...

This method allows you to use a prescribed rate that is multiplied by the allowed square footage. Requirements to Claim the Home Office Ded...

Youve been stuck in a corner of your childs now unused bedroom for a solid year Professional lighting You purchased Zoom sessionDiscuss the...

For example if your home office is 12 feet by 12 feet thats a total of 144 square feet. With either method the qualification for the home o...

However for tax years 2018 through 2025 the itemized deduction for employee business expenses has been eliminated. Taxpayers who qualify ma...

In a nutshell the home office tax deduction can be claimed only by self-employed individualsmeaning freelancers small-business owners and a...

There are additional rules regarding depreciation and carryover losses. If Im self-employed should I take the home office tax deduction. ...