About
This course provides a concise, yet comprehensive, guide to the IRS deduction for the business use of your home. We focus on the strict criteria and calculation methods necessary for self-employed individuals to legally reduce their taxable income. What You Will Learn Eligibility Tests: Master the two core requirements: Exclusive and Regular Use and the definition of a Principal Place of Business. (Includes special rules for storage and daycare facilities). Calculation Methods: Learn how to correctly apply the Simplified Option ($5 per sq. ft.) and the more complex Actual Expense Method (calculating the business percentage of utilities, rent, and depreciation). Compliance: Determine the proper reporting on Schedule C and Form 8829 and review the essential records required to successfully defend your deduction in the event of an audit. This training is designed to give you the clarity needed to claim this important tax break accurately and confidently.
You can also join this program via the mobile app. Go to the app