Don’t gamble on the details.
Red flag and IRS — two things you never want to see in the same sentence. If you’re self-employed or have a small business, chances are somewhere along the way, you’ve been told that deducting a portion of your housing costs will be a red flag for an audit.
However, this isn’t necessarily the case. And if you legitimately qualify for the home office deduction, there’s no reason to avoid it. After all, the typical home office deduction will run into the thousands of dollars. It’s substantial and well worth the effort (far more so than scouring your car for a missing receipt for printer ink)…
Continue reading… “How to Maximize your home office tax deductions”
