Blog Archives

New Office In Home (OIH) Deduction Review IRS Form 8829 & Revenue Procedure 2013-13

According to IRS Revenue Procedure 2013-13 in addition to claiming the traditional office in home (OIH) or home office deduction on IRS Form 8829 there is now a new simplified option you can consider effective January 1, 2013. Basically this new

Tagged with: , , , , ,
Posted in Home Office

The New Home Office Deduction Safe Harbor – IRS Rev. Proc. 2013-13

The Internal Revenue Service announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. The new simplified option is available starting with the

Tagged with: , , , ,
Posted in Business Expense, Deductible Expense, Employee Business Expense, Home Office, Self Employ, Small Business, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Records

IRS Publication 587: Business Use of Home

I am not a big fan of this deduction for a wide variety of reasons but mostly because there can be a substantial administrative burden associated with recapturing depreciation expense taken in previous tax years upon the sale of one's

Tagged with: , , ,
Posted in Home Office, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Problems & Requests

Home Office Deduction Pitfall – IRS Form 8829

The home office deduction is something that you can choose not to take and sometimes that is the best choice.  If you are legitimately using dedicated space in your house for your on-going business with a profit motive or you

Tagged with: ,
Posted in Home Office

Home Office Deduction IRS Publication 587

If you use a portion of your home for business purposes, you may be able to take a home office deduction whether you are self-employed or an employee. Expenses that you may be able to deduct for business use of

Tagged with: , ,
Posted in Employee Business Expense, Home Office
Subscribe via Email

Follow me on Twitter
QuickBooks Advanced Certified ProAdvisors Online

QuickBooks Certified ProAdvisor - QuickBooks Online Advanced Certification

Xero Certified Adviser