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Home Office Deductions: A Refresher

Many people think they can take a home office deduction, but that isn't always the case. At-home workers need to pay particular attention to the complex rules. Click through to see who can take this deduction and under what circumstances. The Internal Revenue Code (IRC) allows taxpayers to claim a business deduction for expenses arising from the qualified use of all or part of a residence, as long as certain conditions are met. This deduction can be a particularly attractive tax planning tool for those who meet one of the following requirements: The home office is taxpayer's principal place of business. A home office must be used regularly and exclusively to conduct business. Consequently, working on the kitchen table (which is also used for purposes other than work) doesn't qualify, but a desk set up in a bedroom might. The home office is where the taxpayer meets patients, clients, or customers in the regular course of business. This can be difficult to assess if the taxpayer operates out of different locations. In such cases, the IRS will look at things like the amount of time spent at the location. To assess where the principal place of business is, if a...
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