Self Employment Success Sedona AZ

Here are a few tax tips to make your work-at-home dream come true.

H&R Block
(928) 282-4970
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Ellis McGehee Carter
(602) 456-0071
3003 N CENTRAL AVE STE 2600
PHOENIX, AZ
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University of Washington School of Law,Northeastern University,Seattle University
State Licensing
Arizona, Washington

Charles A Pulaski Jr
(602) 382-6221
400 E Van Buren
Phoenix, AZ
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Tax, Litigation, Insurance
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YALE U
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Luke Reynoso
(480) 355-8315
8765 E. Bell Road, Suite 210
Scottsdale, AZ
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Estate Planning, Foreclosure, Tax, Trusts
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Arizona

Susan M Freund
6750 N ORACLE RD
TUCSON, AZ
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Tax, Corporate, Estate Planning
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Monmouth College,Moravian College,New York University,University of Arizona
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Arizona

Richard S Hudgins
6750 N ORACLE RD
TUCSON, AZ
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Tax, Estate Planning, Real Estate, Business
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College of William and Mary,George Washington University,George Washington University
State Licensing
Arizona

Douglass S Lodmell
(602) 230-2014
400 E VAN BUREN ST STE 850
PHOENIX, AZ
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Estate Planning, Trusts, Tax
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Yeshiva University, Benjamin N. Cardozo School of Law,New York University,University of Northern Col
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Arizona, Florida

Frederick W Meissner Jr
(602) 912-5808
2415 E CAMELBACK RD STE 700
PHOENIX, AZ
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Tax, Bankruptcy, Wills
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Golden Gate University
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Arizona

Marvin S Swift Jr
(602) 382-6211
400 E Van Buren
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Employee Benefits, Litigation, Tax
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U OF RICHMOND
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Arizona

Robert Kelly Gorman
3300 N CENTRAL AVE STE 1900
PHOENIX, AZ
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Estate Planning, Probate, Tax, Business, Real Estate
Education
Arizona State University,Arizona State University
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Arizona

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Self Employment Success

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It's the modern American dream, isn't it? You wake up at 9 a.m. You make yourself a homemade cup of joe. You stay in your pajamas. And you get paid too. But the IRS has a few caveats to making the work-at-home dream, well, work. Here are a few tax tips so you can stay ahead on your taxes:

Deducting Expenses for a Home Office

In 1999, the rules for deducting expenses associated with a home office were loosened significantly, allowing many people who were previously denied the deduction to begin claiming it. If you're self-employed and use a portion of your home regularly and exclusively for the record keeping and management functions of your business, and you have no other location where you regularly perform such functions, you may qualify for a home-office deduction.

The rules are trickier for employees who work at home. Keep in mind that the use of a home office by an employee must be required by the employer, not merely permitted by the employer.


Don't Get Comfortable in Your Office Furniture

Here's another caveat: if you want to write off your new home office desk chair, don't even think about sitting in it after business hours. You can deduct the cost of your office furniture only if it is used for business 100 percent of the time. Ordinarily you would depreciate that cost over several years, but the section 179 expense deduction allows you to deduct the entire cost in the year of purchase if you qualify.

No matter how you figure it, a home office is definitely a complex deduction - there are a lot of regulations that surround it. We recommend you seek advice from your tax professional if you're planning to take this one....


Click here to read the rest of the article at YoungMoney.com.