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Tax season is here and many remote workers are wondering what expenses they can write off while working from home. In 2022, 60 million people did freelance work, primarily from their home office ...
With tax season 2023 in full swing, knowing how to navigate working-from-home tax deductions can help you save time — and money — on your returns. Read: 3 Ways Smart People Save Money When ...
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.
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.
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.
If you're self-employed and use part of your home for business purposes, you may be able to deduct certain related expenses. To claim the home office deduction on your 2021 tax return, the IRS says...
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