Home Office Deduction examines the federal income tax deduction for business use of a home. It addresses the qualifications for a home office deduction and the actual expense and simplified methods of determining the deduction. In addition, it discusses the special home-office deduction rules applicable to daycare facilities and the recordkeeping requirements for taking a home office deduction. Also covered are where the deduction should be taken and the forms a tax preparer should use in connection with the deduction.
Qualifying for a Home Office Deduction. Figuring the Home Office Deduction. Deducting and Recordkeeping.
CPAs, financial professionals, enrolled agents and attorneys.
Recognize the general requirement for exclusive use applicable to home-office deduction and the exceptions to the requirement. List the requirements that apply to a taxpayer’s qualifying for a home-office deduction for purposes of storage of product samples or inventory. Identify the conditions a taxpayer must meet in order to qualify for the exception to the exclusive use rule when operating a daycare facility. Recognize the factors that must be considered to determine if a taxpayer’s home is the principal place of business for purposes of the home-office deduction. List the exceptions to the requirement that a home office must be the taxpayer’s principal place of business in order to qualify for a home-office deduction, and more.
Paul Winn, Western CPE
Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.
Non-Member Price $100.00
Member Price $87.00