Comments on: Home Office Deduction Not Only for Office Space

By: Steve

Steve — Mon, 11 May 2009 16:05:11 +0000

That article says you should devote 25 percent of your square footage to a home office or work space — that seems like a lot! I wonder if it’s really worth it to claim the deduction if you just have a small home office.

By: Aaron

Aaron — Mon, 11 May 2009 15:59:11 +0000

Now is the perfect opportunity to try those home-based business ventures. If you know how to use SEM and social media to market yourself, you can succeed. It’s a lot easier than it was just a few years ago.

By: Megan

Megan — Mon, 11 May 2009 15:57:21 +0000

That’s interesting that the home office deduction isn’t the red flag for the IRS that it used to be. It’s so common these days. I know lots of people who are making a living out of their homes!

By: Heather

Heather — Mon, 11 May 2009 15:56:05 +0000

I would say that if you conduct any kind of business out of your home, you should definitely consult with a tax attorney or an accountant. There might be other deductions you quality for — or other practices to avoid that could get you into trouble.

By: Elizabeth

Elizabeth — Mon, 11 May 2009 15:54:27 +0000

Home office deductions sound really complicated. Unfortunately in my small space, I don’t have a separate room that I can use for a home office. My computer is in my bedroom, which means I can’t claim home office space! Doesn’t really seem fair.

By: Jennifer

Jennifer — Mon, 11 May 2009 15:53:13 +0000

That CNN article is really interesting. I’ve read before that 2009 will be the year of the 1099 — with traditional job opportunities less available, a lot of people are figuring out ways to make a living at home. It’ll be interesting to see how that further affects the economy.

By: Tara

Tara — Mon, 11 May 2009 15:45:58 +0000

Good advice. There are so many things like this that most people don’t know about. Kind of makes you wonder what other deductions you might not be aware of!