
Has your friend, neighbor or colleague told you that if you take the home office deduction, it will be a “red flag” to the IRS that will trigger an audit? Well, that is just not true! In order to claim the home office deduction, you MUST QUALIFY. To qualify, you are required to meet 2 tests: regularly used and exclusively used for business. Regular Use: this test is clear – you use the area on a continuing basis. Occasional or incidental business use does not meet the … [Read more...]
