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Dazed and Confused About Working from Home

By | Business By The Book, Ownership & Purpose, Running a Business, Taxes and Tax Management | No Comments
Home Office

Of all the deductions our tax code allows, the home office deduction should win the prize for “most likely to confuse and frighten.” So let’s shed a bit of light and dispel some myths.   As always, note this is intended to be general in nature and not all-inclusive of tax regulation.   Who can take the home office deduction? You don’t have to be in business for yourself to take the deduction, but it is easier to qualify if you are.  The IRS applies the “regular and exclusive use” rule for the area of your home used for business in order…

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