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Hokie360

Joined: 08/26/2006 Posts: 17911
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Are you eligible for the IRS home office deduction?


Saw this article and thought I'd share since this was asked here a couple days ago.

The law, as modified by the Tax Cuts and Jobs Act, mainly applies to self-employed individuals and small business owners, meaning employees do not qualify.

In order to be eligible to claim the deduction on certain expenses, you must regularly use part of your home for the exclusive purpose of carrying out business. You also must be able to show that your home is used as the principal place of business – but you may be eligible even if you conduct business at other locations, too.

Link: Are you eligible for the IRS home office deduction?


Posted: 02/10/2021 at 4:56PM


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Current Thread:
 
  Are you eligible for the IRS home office deduction? -- Hokie360 02/10/2021 4:56PM
  Surprised they haven't granted a temporary WFH credit -- One4VT 02/10/2021 6:25PM
  Better would be for employer to reimburse the employee, since the company -- Hokie360 02/11/2021 09:01AM
  Why? ** -- PhotoHokieNC 02/11/2021 05:59AM
  Why not? Self employed get much more plush treatment in the code as is ** -- One4VT 02/11/2021 09:21AM
  LOL. ** -- PhotoHokieNC 02/11/2021 09:27AM
  I'm talking about on this specific issue... -- One4VT 02/11/2021 09:38AM
  There's an enormous difference between that kind of home set up -- PhotoHokieNC 02/11/2021 09:45AM
  There are built in costs though -- One4VT 02/11/2021 10:04AM
  I have no idea why the government should be involved in private enterprise -- PhotoHokieNC 02/11/2021 10:07AM
  Well then I hope they don't take away your S/E carveout! ** -- One4VT 02/11/2021 10:09AM
  Legit businesses don't see it as "carveout". Why the hate on capitalism? ** -- PhotoHokieNC 02/11/2021 10:13AM
  You are denying a carveout for June, a 40 year old woman in Accounting -- One4VT 02/11/2021 10:17AM
  Now neither of us know what the hell you're talking about. ** -- PhotoHokieNC 02/11/2021 10:39AM
  Get off my lawn! -- One4VT 02/11/2021 10:41AM
  LOL. Oh sure, now. ** -- PhotoHokieNC 02/11/2021 10:42AM
  Yep ** -- PhotoHokieNC 02/10/2021 5:31PM

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