The Real Benefit Of the Home Office Deduction (Hint: It’s the Travel Expense)

The Real Benefit Of the Home Office Deduction (Hint: It's the Travel Expense)
I once asked my doctor what he thought about pharma ads and their ubiquitous tagline of “ask your doctor if Xilipum (not a real drug, I hope) is right for you.” He was not a fan. Now that I’m a CPA, I can partially commiserate. Joe Schmo loves to tell our client they should “just ...

Home Office Expense Deduction

Home Office Expense Deduction
(NOTE: This is a continuation of a case study looking into tax implications of starting up a small business. This particular article deals with tax deductions for small business. Click here to go back to the start of the case study.) With her nail business ramping up, Amy cleans out a spare bedroom in her house and turns it into ...