IRS creates simplified home-office deduction

01/20/2013 | JournalofAccountancy.com

Last week, the Internal Revenue Service announced an optional safe-harbor method that taxpayers can use -- starting immediately -- to claim a home-office deduction of up to $1,500 a year. The safe-harbor method simplifies the calculation of the deduction, but taxpayers must continue to satisfy all the home-office deduction eligibility requirements, including exclusive business use of the office.

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