{"id":4821,"date":"2020-12-02T00:00:00","date_gmt":"2020-12-02T04:00:00","guid":{"rendered":"https:\/\/www.whitcomb.com\/turn-your-home-office-into-a-tax-deduction\/"},"modified":"2022-02-07T09:19:54","modified_gmt":"2022-02-07T13:19:54","slug":"turn-your-home-office-into-a-tax-deduction","status":"publish","type":"post","link":"https:\/\/www.whitcomb.com\/blog\/2020\/12\/02\/turn-your-home-office-into-a-tax-deduction\/","title":{"rendered":"Turn Your Home Office Into a Tax Deduction"},"content":{"rendered":"\n
If you are working from home for the first time in 2020, you may be wondering if your home office is tax deductible. The bad news? If you\u2019re working from home for an employer, you normally can\u2019t deduct your home office expenses.
Here\u2019s a quick look at the basic requirements to be able to deduct your home office expenses, along with some suggestions for how to qualify for the deduction if you\u2019re currently working for your company as an employee.<\/p>\n\n\n\n
The basics<\/strong><\/p>\n\n\n\n There are two requirements for having a tax-deductible home office:<\/p>\n\n\n\n Looking at these two criteria, everyone that is now required to work from home probably meets both qualifications. If you’re a W-2 employee, however, you can’t deduct your home office expenses on your tax return.<\/p>\n\n\n\n Solving the problem<\/strong><\/p>\n\n\n\n Here are three options for solving your problem of being a W-2 employee and qualifying to deduct your home office expenses on your tax return.<\/p>\n\n\n\n What if none of these options for deducting home office expenses are feasible for you? While you won’t be able to deduct your home office expenses on your tax return, you may still be able to end up financially ahead with the help of your employer.<\/p>\n\n\n\n Get reimbursed by your company<\/strong><\/p>\n\n\n\n There’s no question you are picking up some of the expense of your home office with added electrical, heating, telephone, internet and other expenses. One way companies are solving this is by allowing employees to submit valid expense reports to cover some of these extra costs. They do this by setting up an accountable plan. With financial pressures on businesses, this might be a tough subject to broach, but if the system is already in place you may be able to find a way to get some of your home office expense reimbursed.<\/p>\n\n\n\n So if you’re stuck working as a W-2 employee, look into whether your employer offers reimbursement for home office expenses.<\/p>\n\n\n\n Figuring out how to properly deduct your home office or get reimbursed by your employer can be a lot more complicated than it appears. If you need help, please call.<\/p>\n","protected":false},"excerpt":{"rendered":" If you are working from home for the first time in 2020, you may be wondering if your home office is tax deductible. The bad news? If you’re working from home for an employer, you normally can’t deduct your home office expenses.Here&rsquo<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"post_statement":"","post_description":"","post_cta":"","post_button":"Read More","post_button_url":"","compliance_id":"","post_disclaimer":"","footnotes":""},"categories":[46],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/posts\/4821"}],"collection":[{"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/comments?post=4821"}],"version-history":[{"count":1,"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/posts\/4821\/revisions"}],"predecessor-version":[{"id":5064,"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/posts\/4821\/revisions\/5064"}],"wp:attachment":[{"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/media?parent=4821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/categories?post=4821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whitcomb.com\/wp-json\/wp\/v2\/tags?post=4821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}