Planning and Services White Papers
The Home Office Deduction
Overview The savings from an office-in-home deduction can be significant, particularly in the case of a taxpayer who is subject to both income and self-employment taxes. However, before including this deduction on the client's return, one should help him assess his future. In particular, one should inquire whether he'll be selling his house soon. If the client claims an office-in-home deduction in the year that he sells his house, he could incur a significant tax penalty.
| Publisher | Microsoft Tips | File Format | HTML |
|---|---|---|---|
| Date Published | December 2007 | ||
| Format | White Papers | ||
| Topics | |||
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