principal residence

The new Housing and Economic Recovery Act of 2008 is supposed to stop foreclosures and help out the hard-hit housing market. I can’t for the life of me see how this is going to help.

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.