DAVID S. BABOIAN, CPA, PC

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11/19/2015

November 18th, 2015

Read Now
 
TAX TIP OF THE DAY... 
Deduct your home office.  A nasty rumor has been circulating for years that the home office deduction is a red flag for an audit.  This is completely FALSE.  Take the deduction!  

The home office deduction benefits a) unincorporated businesses b) certain rental properties and c) employees working from home 5 days.  Note: Employees working from home just some of the time can receive partial tax benefits.    

Hints:  
1) Use the number of rooms method for larger deductions. 
2) Skip the simplified method for larger deductions.
3) Don't forget to deduct personal items converted to business.... desk, computer, lamps, telephone, carpet, wall hangings, bookcase, etc.
4) IRS rules in this area are very complex and filled with exceptions & superceded rules.  Send me an email and I can advise if you qualify.
5) Discuss with a CPA how future capital gains may be affected.


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  • Home
  • Services
    • What we do
    • Are we right for you?
    • $99 Jump-start
  • Client zone
    • Individual clients >
      • Identity Theft - IRS Affidavit
      • Personal Financial Statement
    • Business & rental clients >
      • Example expenses
      • Mileage log
      • Petty cash log
      • Sales tax
      • W9 for subcontractor
      • Example Profit & Loss
      • Obamacare Self-employment Ledger
    • Payroll services >
      • Employee paystub portal
      • EMPLOYER set up forms
      • EMPLOYEE set up forms for new hires
    • Web Links
  • About us
    • Contact
    • Our team
    • Dave's resume
    • Dave's bands
    • Haunted Chamber
    • Picture gallery
  • Secure email