Home Office Tax Deduction Reddit

This used to be a really complicated deduction to take. If i use both bedrooms one for office and one for business storage for my business 300 square feet and double up my living room as my bedroom with a futon could i theoretically write off about 30 of rent for my business. Reddit s home for tax geeks and taxpayers.

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And international federal state or.

Home office tax deduction reddit. Home office tax deduction is this possible. The u garden empress community on reddit. There is an office but most of my duties can be performed online from home. It s a new day and my first post so good afternoon world.

I have been working full time for a corporation for the last year and a half and the company has been very flexible in allowing me to work remotely. You had to figure out all the costs of your home mortgage property taxes depreciation utilities etc and then multiply them by the fraction of your home used by the business. I see myself staying at this company for at least 3 5 years but my ultimate goal would be to start my own consulting business and work from home for myself. Home office deduction would i be eligible.

Reddit s home for tax geeks. It s just shedding new light on what i ve been wondering might be unfair business practices so i was hoping for reddit advice from more subject matter experts than myself. But if you re an employee who works at home tax reform may have put a wrinkle in your dreams of a home office tax deduction. No tax deductions for home office.

I have an extra room that i can use solely as an office but i need to buy a new pc. While tax reform didn t directly change the home office deduction it did temporarily suspend miscellaneous itemized. And international federal state or local. Reddit gives you the best of the internet in one place.

The home office tax deduction is the single largest trigger for an audit. I was wondering if i qualify for the home office tax deduction. I m renting a 2 bedroom apartment 900 square feet 2500 per month. News discussion policy and law relating to any tax u s.

News discussion policy and law relating to any tax u s. The first tax break to consider if you work from home is the home office deduction. I m 20 years old and still live at. Also the space has to be used only for an office.

If you re self employed and work from home you may be able to claim the home office deduction to help lower your federal income tax bill. I imagine that i will spend half the week at the office and the other half at home. The home office deduction. Popular all random users askreddit pics.

As an employee that works from home it is very difficult to claim any expenses for your home office as there are a large list of conditions that you must meet in order to. Home office tax deductions if you currently work from home make sure you are taking advantage of a large range of potential savings you can find in home office tax deductions.