Home Office Deduction

Authored by Annette Nellen
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.
$ 45.00
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NASBA Field of Study
CPE Credits
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