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• W313633191 abstract "[ILLUSTRATION OMITTED] Working at home has come a long way from the days when employers were most concerned that they would not get their money's worth if they allowed employees to do so. Instant communication, improved internet access, and more stable virtual network connections have changed the equation for employers, who now see the ability to work at home as benefiting both sides: employers and employees. Although estimates vary, one source says that the number of workers regularly telecommuting (more than one day a week and not including the self-employed) grew 73% between 2005 and 2011 (Latest Telecommuting Statistics, available at tinyurl. com/a7tzewp (updated Oct. 2012)). The same source asserts that if those who have jobs that are compatible with working at home and would like to do so were permitted to work at home at least half the time, annual savings would be greater than $700 billion. This includes savings of $11,000 per person a year for the typical and savings of $2,000 to $7,000 a year for the typical telecommuter. In contrast to employees, the number of self-employed people working from home actually decreased during the recession. As the economy recovers, however, the number of businesses in homes should also increase. As more people telecommute from home and people who lost jobs in the recession start businesses in their homes, it is a good time to revisit the tax rules that apply when people work from their homes. The rules are complex, so it is important to fully understand them to comply and thus withstand a possible IRS challenge. The rules to qualify are different for employees than for the self-employed, as are the procedures for claiming the deduction on a tax return. The IRS recently announced a safe-harbor method that will make it easier for taxpayers who choose the safe harbor to take the deduction, so practitioners may see an increase in clients who want to take the deduction. However, the basic qualification rules have not changed, so an understanding of them is still important. THE STATUTORY REQUIREMENTS A deduction is permitted for associated with that portion of the dwelling unit that is exclusively used on a regular basis either (1) as the place of for any trade or of the taxpayer; (2) as a place of that is used by patients, clients, or customers in meeting or dealing with the taxpayer in the normal course of his or her trade or business; or (3) in the case of a separate structure that is not attached to the dwelling unit, in connection with the taxpayer's trade or business. For purposes of (1) above, the term principal place of business includes a place of that the taxpayer uses for the administrative or management activities of the taxpayer's trade or if there is no other fixed location for the trade or where the taxpayer conducts the substantial administrative or management activities (Sec. 280A(c)(1), flush language). There are also special rules for use of a portion of the home as storage space or to provide child care facilities, which are not addressed in this article. In most cases, the office must be the place of for any trade or of the taxpayer, which has been interpreted as meaning that expenses attributable to the use of a home office in conducting two or more separate activities may be deductible (Hamacher, 94 T.C. 348, 356 (1990)). However, if a person uses one home office for numerous activities, each activity must meet the requirements under Sec. 280A, or they will all be disqualified (id.). For the use of a home office by an employee to qualify, the use must be for the convenience of his or her employer (Sec. 280A(c)(1), flush language). Also, if the employee rents a portion of his or her home to the employer and uses the rented space to perform services as an employee for that employer, the employee cannot take a home office deduction for related to that part of the employee's home (Sec. …" @default.
• W313633191 created "2016-06-24" @default.
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• W313633191 date "2013-07-01" @default.
• W313633191 modified "2023-09-26" @default.
• W313633191 title "IRS Offers a New Method for Home Office Deductions: Safe Harbor Simplifies Calculation, but Qualification Factors Are Unchanged" @default.
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