About this Course
Topics covered include: Who may claim a home office deduction?;
What expenses qualify?;
The simplified method and when it is advantageous;
A review of key rulings on this topic;
Planning Considerations;
Due diligence considerations and avoiding problems.
Upon completing this course you should be able to: Identify when an individual is entitled to a home office deduction;
Calculate a home office deduction
Recognize due diligence steps to avoid problems;
Recognize congressional acts initially provided definitive rules relating to deductions for expenses attributable to the business use of a home;
Identify the first question a taxpayer should assess;
Differentiate correct statements with respect to the assessment of the principal place of business;
Identify an expense that can be deducted whether or not there is business use of a home;
Differentiate statements regarding simplified home office deduction;
Recognize court rulings related to the home office deduction;
Identify IRC Sections prescribes the primary rules and requirements with respect to the home office deduction;
Identify the next question to be asked if a taxpayer determines that part of their home is used in connection with a trade or business;
Describe a dwelling unit for purposes of 280A;
Recognize which schedule telecommuting employees should include their expenses;
Identify a typical expense a taxpayer can deduct if the taxpayer's space in their home qualifies as a home office;
Identify the maximum allowable square footage if a taxpayer elects use of the simplified method;
Identify a common area where taxpayers encounter problems with respect to the home office deduction.