Inside the new home office deduction safe harbor

07/6/2013 | Journal of Accountancy print issue

The news that the Internal Revenue Service has provided a simplified safe harbor for calculating the home office deduction was welcomed by many taxpayers who work out of their homes, but the factors for qualifying for the deduction haven't changed, and the safe harbor amount is not large. This article explains the requirements for taking and calculating the deduction under the actual expense rules and under the new safe harbor.

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