Tax Savings Strategy: How to Calculate and Claim Your Home Office Deduction | Know Your Worth E20

February 13, 2024

While you may be used to tracking your expenses, the home office deduction is a little more complicated (thanks IRS) than simply adding a line item to your books. 

There are several rules and limitations for a home office, how much you can write off, and how to properly claim that deduction with the IRS. 

If you’re self-employed or an independent contractor working from home most often and you’re not leveraging the home office deduction or you’ve been adding it to your expenses but aren’t aware of the limitations, rules, and forms you need to claim it properly, this episode is for you!

Subscribe on YouTube | Apple | Spotify

01:36 — How to know if you qualify for the home office deduction, especially if you don’t always work from home or in the same room

08:33 — Limitations to know about a home office deduction so you don’t create a red flag with the IRS

10:44 — The forms you need to use the home office deduction 

MENTIONED IN THIS EPISODE
💵 Home Office Deduction Calculator: https://docs.google.com/spreadsheets/d/1aPSH1No79YxYGaDtTsE_zlXfZ2AEOv2QKkcTIPDeBdQ/copy

Leave a Reply

Your email address will not be published. Required fields are marked *