Author Question: When can an online seller or telecommuter claim the home office tax deduction? What will be an ... (Read 25 times)

littleanan

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When can an online seller or telecommuter claim the home office tax deduction?
 
  What will be an ideal response?

Question 2

The more carefully and precisely a contract is drafted, the less ________ there will be between the parties later.
 
  A) agreement B) confusion C) business D) animosity



joneynes

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Answer to Question 1

For a home office tax deduction, a taxpayer must carry on a bona fide business and meet other specific requirements. The home office deduction allows a taxpayer to deduct as an itemized expense that portion of apartment rental or home mortgage costs (and related utility costs and other verifiable upkeep and maintenance expenses) attributable to the amount of the home that is used regularly and exclusively (and the IRS pays attention to exclusively) as the principal place of business, or for client meetings or business-related storage.

Answer to Question 2

B



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