Page 9 - Office Deduction News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Creating, maintaining, and monitoring your progress in your financial plan is an important commitment, and it starts with getting your priorities

MoneyTipsAs a self-employed person, you probably watched the development of the Tax Cuts and Jobs Act (TCJA) with some trepidation. The tax code is not often kind to the self-employed,

If you deduct the cost of part of your home for office space, it increases the likelihood that your tax return will be pulled for audit because in the irs' experience it marginally increases the likelihood that your tax return is not, shall we say, perfectly accurate. there's a lot of cheating around the home office deduction and the irs knows it. and because there are very, very few people that claim that office deduction that actually fulfill the strict requirements for the home office deduction, then most of you don't even realize what the requirements are, that becomes one of the many, man...

It increases the likelihood that your tax return will be pulled for audit because in the irs' experience it marginally increases the likelihood that your tax return is not, shall we say, perfectly accurate. there's a lot of cheating around the home office deduction and the irs knows it. and because there are very, very few people that claim that office deduction that actually fulfill the strict requirements for the home office deduction, then most of you don't even realize what the requirements are, that becomes one of the many, many red flags that the irs uses in its enforcement procedures. t...