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When you work from home as self-employed, the IRS allows you to claim expenses on your tax return that you cannot do if you work for a company. Suppose you worked from home in 2022 due to COVID-19 ...
Home office-related deductions are based on the percentage of your home that you use for business. If you meet IRS guidelines, you can deduct the following home-related expenses: Homeowners insurance.
You may be able to take a tax break for your home office expenses, but you need to follow some strict rules. There's a lot of confusion around the home office deduction because many remote workers ...
The number of people who work from home exploded in 2020 because of the COVID-19 pandemic. Some people will be able to take a tax deduction for their home office expenses, but many will not.
The IRS lays out the rules for deducting home office costs in Publication 587. There's a … Continue reading ->The post All About the Home Office Tax Deduction appeared first on SmartAsset Blog.
First off, the home office deduction is available to self-employed taxpayers, independent contractors and those working in the gig economy, according to the Internal Revenue Service (IRS).
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