While doing some research for a client project, I happened across this article from last year, and saved it for comment on my blog:
Slowdown may boost home-office deductions
The article anticipated that in the coming year, the number of people working from home and claiming the home office deduction would increase. Supposedly the slower economy was expected to make people more likely to work from home in order to make ends meet. I assume they mean unemployed people or part-time businesses on the side of regular jobs, because it takes a lot more dedication than simply wanting to make ends meet in order to make a home business suffice as the only source of income!
Since the article is a year old, I can't help but wonder if the IRS really saw the predicted increase in home office deductions.
I also found it interesting that the article claims the home office deduction is no longer a red flag for an audit. I've heard that before, but I've been somewhat reluctant to give any credence to it. I'd rather be safe than sorry; and besides, removing all personal items and activities from my office space would be too complicated, so I'm rather content not taking this deduction.
What about you though? Do you take the deduction, and do you think there's any truth to the statement that the home office deduction is a red flag for an audit?
Sponsored
Subscribe to:
Post Comments (Atom)
Sponsored
Popular Posts
-
This is a very long post, but the information contained in it is potentially very important, so please bear with me. On Monday I read a very...
-
Please scroll down for an update on this post. My posts on Freelance Work Exchange ( now GoFreelance.com ) have always attracted a lot of h...
-
Please see the bottom of this post for an update. Quite recently, I blogged about an email I received from Rob Palmer, the president of GoF...
-
I try to keep this blog mostly writing-related, but every once in a while I see something in the news that I just have to comment about. Tod...
-
Several months ago, Rob Palmer emailed me regarding my blog posts regarding GoFreelance.com, formerly known as Freelance Work Exchange or Fr...
-
I just ran across something that seems to indicate an even greater likelihood of Laray Carr (LCP) being a scam. Apparently, Quincy Carr is ...
-
Occasionally I run across job ads where the client wants writers to simply reword existing articles. The idea is that they want to "bor...
-
When I was writing an article today, I used the word "agreeance," and Word automatically flagged it. I was flabbergasted. Althou...
-
Not long ago, I was browsing on Facebook when I saw an ad for a software that automagically generates blog posts for you. This was news to m...
-
My last post talked a lot about how I'm trying to adapt to a lack of deadlines , now that I'm working on my own projects and not fre...
No comments:
Post a Comment