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DETHLOFF & ASOOCIATES BLOG - MOSTLY (BUT NOT ALL) TAX

Can You Deduct Office In Home Expenses?

Posted by Admin Posted on Jan 23 2018
For 2018, fewer taxpayers will be eligible for a home office deduction. Employees claim home office expenses as a miscellaneous itemized deduction. For 2017, this means you get a tax benefit if these expenses plus other miscellaneous itemized expenses exceed 2% of adjusted gross income.
 
For 2018, the Tax Cuts and Jobs Act suspends miscellaneous itemized deductions subject to the 2% floor. So no home office deduction for employees.
 
If you’re self-employed, you can continue to deduct eligible home office expenses against self-employment income as you have done in the past.

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These blog posts are for general information purposes only. Tax law is very complex. You should never make a tax or financial decision based on our (or anyone elses) blog post. If you think a posting might be applicable to your situation please contact us and we'd be happy to discuss it in more detail. 

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