Your 90 Second Tax and Legal Tip
Mark J Kohler 注册会计师 律师 畅销书作者
By Mark J KohlerCPA, Attorney, Best selling author
嗨 我是Mark Kohler
Hi! Mark Kohler here.
And I wanna talk about the home office tax write-off.
First and foremost, please do not be afraid of this deduction.
There’re a lot of old school concepts
that’ll freak out their clients, and say
“Oh, don’t take your home office write-off.
you should get out of it.”
错 如果可以的话 就做吧
Wrong! If you’re entitled to it, take it.
Now there’re two rules, two methods
and I wanna hit a couple of strategies
that gonna blow your mind. First, the rules.
This is to be an exclusive area of your home
you can use for business.
You can look for a square footage.
You get it marked off.
And that is your home office.
I’d rather say just understand that
you might go in there and return an email in your underwear at night.
But it means to be dedicated to your home office.
it has to be your principal place of doing business,
or you make your phone calls with your customers and clients.
Now you have a traditional place down the street.
You may not allergic to your home office.
What if you can? Wait for this video.
Now there’re two methods to describe,
Traditional which is the typical one way
you take a percentage of the home office
compared with the home appartment
and a percentage of utilities and home mortgage
you’re interested or run based on the percentage of use.
The new one is the simplified method.
On the last few years,
when you can deduct $5 up to 300′
throughout the year for the home office,
which is 1500 bucks, may not seem like a lot.
But it is simple and easy to take advantage of.
And what do you do?
Make sure you can comply with the two rules
and choose one of the two methods
and meet your accountant about it.
Now for you S-corp owners,
you can do a rent reimbursement
and take a deduction of the S-corp level
based on e-mail you would calculate otherwise.
So don’t feel left down the call.
Now the highlight of this video is
the rule that’s involved in the last two years in case with IRS.
It’s called the “Admin office”.
Wheras if you have a principal place doing business down the street,
you can still have an office at home
to return e-mails, do bookkeeping and make phone calls.
Call the administrator of the office.
Look into it.
Talk to your accountant. Make sure you take advantage of writeoff
and don’t be afraid of it.
SubscribeClick the bell to get notified when I post a video
For more information visit MarkJKohler.com