Another timely note from Al Clark!!!  


As you know handling your taxes is key!!  Perhaps you believe as I do, I am very willing to pay the taxes I owe the government for the services provided(not going to debate where we might pay for what reason we don't know).  Yet, I don't want to pay more than is required under the current tax code.   


Thus, any helpful information, I will always pass on!!!  Know you can come here and always find something useful for your day.

AX SERIES CONTINUED- DOING ANY WORK FROM HOME?

Work From Home? Consider the Home Office Deduction Tip Sheet on free filing assistance and cautions. Whether you are self-employed or an employee, if you use a portion of your home for business, you may be able to take a home office deduction.  Here are six things the IRS wants you to know about the Home Office deduction 1. Generally, in order to claim a business deduction for your home, you must use part of your home exclusively and regularly: as your principal place of business, or as a place to meet or deal with patients, clients or customers in the normal course of your business, or in any connection with your trade or business where the business portion of your home is a separate structure not attached to your home. 2. For certain storage use, rental use, or daycare-facility use, you are required to use the property regularly but not exclusively. 3. Generally, the amount you can deduct depends on the percentage of your home used for business. Your deduction for certain expenses will be limited if your gross income from your business is less than your total business expenses. 4. There are special rules for qualified daycare providers and for persons storing business inventory or product samples. 5. If you are self-employed, use Form 8829, Expenses for Business Use of Your Home to figure your home office deduction and report those deductions on line 30 of Form 1040 Schedule C, Profit or Loss From Business. 6. If you are an employee, additional rules apply for claiming the home office deduction. For example, the regular and exclusive business use must be for the convenience of your employer. For more information see IRS Publication 587, Business Use of Your Home, available at http://www.IRS.gov or by calling 800-TAX-FORM (800-829-3676). Links: Publication 587, Business Use of Your Home (PDF 214K) Form 8829, Expenses for Business Use of Your Home (PDF 64K) Form 8829 Instructions (PDF 29K) Schedule C, Profit or Loss from Business (PDF 111K) Schedule A, Itemized Deductions (PDF)