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If you own a business, then a home office provides tremendous tax savings.


Whether you operate your business as a proprietorship, LLC, or corporation, the home office deduction can save you thousands in taxes.

And one of the best aspects of this deduction is that it doesn't cost you a penny more than what you already pay. That's because it turns personal nondeductible expenses into business deductions that reduce your taxable income.

Q&A: No Business Income, No Home-Office Deduction: Wrong
If you have no taxable income, should you claim the office-in-the-home tax deduction? Answer: yes. Even with no taxable income, you have two for-sure tax benefits from the home office, and you likely have a third benefit.

When the Second Office in the Home Is a Principal Place of Business
If you have an office downtown where you spend 40 hours a week, can you claim that you have an office in your home that qualifies as a principal office if you spend only 12 hours a week working in the home office? If you said no, you are not alone. But you would also be wrong.

Q&A: Can a Corporation Reimburse a Home Office with IRS Method?
As you likely know, you now have two methods for finding the home-office deduction: the actual expense method and the IRS optional safe-harbor method. To make the deduction work at the corporate level, your corporation must reimburse you, the employee, for the deduction. Can the corporation use the IRS method?

Tax Planning to Winter in Florida and Summer in Massachusetts
You can plan your tax-deductible business life to avoid cold winters and hot summers. To do this, you need to know what a tax home is and where your tax home is located. The good news is that you have just one tax home unless you are one of those rare individuals who has no physical home.

Home Office with More than One Business or Spouse Invasion
With one business use of the home office and no personal use, you qualify for the home-office deduction. The second business use, employee use, and spouse use must equally qualify for the home-office deduction, or else.

Q&A: Administrative Home Office Is a Principal Office
The special rule that applies to administrative or management use of the home office creates a principal office. There are only two ways to create a principal office in your home. The administrative or management office works when you have two offices: (1) an office in the home and (b) an office outside the home.

Q&A: S Corporation Reimbursement of My Home-Office Expenses
If you operate your business as an S corporation and you take advantage of the benefits you receive by having an office in your home, you probably want an easy and audit-proof way to make the reimbursement request.

To find out more about how these benefits can help you or to start implementing a lifestyle plan, feel free to give us a call at 972-385-0007 or send us an email.

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