Office in the home

Exercise in the home - You include home depreciation as part of the home office deduction and eventually sell your home at a profit, you will have to pay a capital gains tax on the total amount of depreciation deductions you took while you were living there, assuming you sold the home for a profit. Simplified method works well for single-room offices and small operations, while the actual-expenses method works better if the business makes up a large part of the home, says tim gagnon, a public accountant and director of northeastern university's online master of science in taxation program. Although no part of the cost of the firs telephone line on your home can be deducted, the full cost of a special line for your business and other direct expenses—such as the cost of long distance business calls—can be written off. Although individual irs auditors may be more or less strict on this point, some advisors say you meet the spirit of the exclusive-use test as long as personal activities invade the home office no more than they would be permitted at an office building.

Home Office Ideas & Furniture – IKEA Home Tour (Episode 208)

In Episode 208 of IKEA Home Tour, the Squad travels to Kansas to help the Johnstons with their dysfunctional home office!