home office

If you’ve read my books, articles or columns, heard me on the radio for “Tax Wednesdays” or seen me in person, you’re bound to know that I love the home office deduction. I talk about it a lot. I also hear a lot of bad information about reasons why not to take the home office deduction.

One of the issues that I hear about is what happens when you sell your home after you’ve taken the home office deduction. Read on to learn more about this deduction plus review the rules on what it takes to get a legitimate home office deduction.

The single biggest misunderstood tax deduction is the home office. Do it right and you’ll get a big tax deduction. Do it wrong and you can face an IRS audit.

There are only two requirements for the home office: (1) The space used must be exclusively used for business, and (2) The space must be regularly used for business purpose.