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home > news Figuring IRS Rules Governing Home Offices Can Be Tough

Figuring IRS Rules Governing Home Offices Can Be Tough




"Not everyone qualifies for a deduction and some just avoid the hassle of claiming it. Still, about 2.5 million people deducted a home office for 2002, up 51 percent from five years earlier, according to the IRS, with an average deduction of $2,544, not counting supplies and equipment. But while it can be enticing to take account of the work you do at home to bulk up federal deductions, and thus also indirectly cut state tax, don't jump the gun..."


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