Bears Business Brief: Home office deduction simplified

Bears Business Brief: Home office deduction simplified
Revenue Procedure 2013-13 now provides a safe harbor option for deducting home office expenses resulting from qualified business use of the taxpayer's home. Again, this is an option, so taxpayers who qualify and wish to deduct actual expenses related …
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Deducting for a home office can be streamlined this year
The hard option involves dividing the square footage of your dedicated office space by the square footage of your home to get the percentage used for business. Let's say that comes out to 10 percent. Then, you add up 10 percent of property-related …
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Taking the Home Office Deduction? Read This
The standard deduction is equal to the square footage of the home office multiplied by $ 5 for a maximum deduction of $ 1,500. “This is the type of thing that makes the biggest difference for small businesses. They are taking complex legislation and a …
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