Wednesday, January 16, 2013

IRS Offers Simpler Option For Calculating Your Office In the Home Deduction

From Tax Pro Today


Small business owners and employees who work from home and who maintain a qualifying home office will be able to deduct up to $1,500 per year. The new option allows qualified taxpayers to deduct annually $5 per square foot of home office space on up to 300 square feet, for as much as $1,500 in deductions. To take advantage of the new option, taxpayers will complete a much simpler version of the current 43-line form.



Read more by clicking on this link

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