Tax Strategy for the Week (June 7th, 2013)
Home Office Tax Deduction
Tax Issue

Many small business owners have an office in the home. Under the general rule for business use of a home, no business deduction is allowed with respect to the use of a home that is used as a residence by the taxpayer. This is true even if the residence is used in the taxpayer’s trade or business. The general rule contains certain exceptions for business use and limitations on those deductions. One disadvantage to a home office is the specific requirements that must be met in order to […]