Posts Tagged ‘knowing when’

Taxes, And Your Home Based Business

December 12th, 2015 by Aaron Web

hodWhen you take the home-office deduction, are you waving a red flag in the eyes of Internal Revenue Service examiners? And if you are, what does that mean?

For years, tax sages have warned that claiming a home office increases your chances of being audited, and the IRS has tacitly gone along with those stories (maybe even exaggerating them, some suggest, to scare home-office workers out of taking the deduction).

In truth, there’s good reason to believe that the home-office deduction flag is fading, as auditors target more fertile ground looking for hidden tax dollars. Self-employment income …

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