Simplified Home Office Deduction

Jul 6, 2014 | Larry | business expenses, deductions, depreciation, IRS, office in the home, simplified home office deduction

The simplified home office option took effect starting January 1, 2013. Use of this option allows the taxpayer who uses a home office for business to deduct the space without maintaining expense records. It is recommended by the IRS as a viable alter

A Brief Primer on the Home Office Deduction

May 27, 2014 | Larry | business expenses, deductions, depreciation, IRS, office in the home, Taxes

One of the most misunderstood and neglected business deductions is the home office. Both tax professionals and clients oftentimes are reluctant to take this valuable deduction. It is unfortunate, because the home office deduction is both valuable and

Depreciation

May 9, 2014 | Larry | Amended tax return, depreciation, IRS

Depreciation is a valuable tax deduction. It is oftentimes not taken due to taxpayer misconceptions, including the belief that the taxpayer will be heavily taxed on the depreciation when the asset is sold. Any additional tax represents a small percen