by Paula Kennedy, EA | Aug 24, 2022 | Tax
If you’re a business owner working from home or an entrepreneur with a home-based side gig, you may qualify for valuable home office deductions. But not everyone who works from home gets the tax break. Employees who work remotely can’t deduct home office expenses...
by Brian Hare, CPA, CGMA | Mar 9, 2021 | Business
While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have begun launching a new small business. Many of these people start out operating as sole proprietors. Here are some tax rules and considerations involved in operating...
by Paula Kennedy, EA | Nov 6, 2020 | Tax
COVID-19 has changed our lives in many ways, and some of the changes have 2020 tax implications. Here is basic information about two common situations. 1. Working from home. Many employees have been told not to come into their workplaces due to the pandemic. If...
by Brian Hare, CPA, CGMA | Feb 24, 2020 | Business, Tax
If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, you can deduct the “direct expenses” of the home office. This includes the costs of painting or...
by Brian Hare, CPA, CGMA | Aug 8, 2019 | Business, Tax
Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your tax return. Deductions for these expenses can save you a bundle, if you meet the tax law qualifications. Under the Tax Cuts and...
