Sunday, March 15, 2009

Tax deduction for home office expenses

In today's world of telecommuting and environmental awareness, many taxpayers opt to work from a home office. Deducting home office expenses can create tax savings, but should be done with care. The rules are very strict, and IRS scrutinizes home office deductions carefully. To help taxpayers determine whether to take the deduction, the AICPA published a short (less than 2 page) summary of the rules, which you can visit here. The IRS also published recent guidance, which you can find here.

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