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Home Office Deduction: How It Works, Who Can Take It - NerdWallet

Summary by nerdwallet.com

If you run a small business out of your home, you might be eligible for some big savings through the home office deduction this year.

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nerdwallet.com

Home Office Deduction: How It Works, Who Can Take It - NerdWallet

If you run a small business out of your home, you might be eligible for some big savings through the home office deduction this year.

21 days ago

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How a business owner’s home office can result in tax deductions

As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to understand the IRS rules to ensure compliance and avoid potential IRS audit risks. There are two methods for claiming this tax break: the actual expense method and the simplified method. Here are answers to frequently asked questions about the tax break. Who qualifies? In general, you qualify for home office…

1 month ago

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