A reminder to Home based Businesses on choosing the Simplified Method to Claim the Home Office Deduction. The advantages Of Simplified Claim Method are :
1. Reduce Paperwork
2. Reduce Record Keeping
Home Office Deduction is based upon the Square Feet area at 5$ Per Sq. Feet, up to a maximum Of 300 Sq. Ft. i.e. $1500.00 Max.
Self employed Individuals can claim this deduction on Schdule C Line 30. Form 8829 is not required when Simplified method is used.
Q & A Contact : Kash, (925) 963 4891 @ Yajnik & Mehta Associates (YMA)
Facebook : www.facebook.com/yma.taxpro
Twitter : http://twitter.com/kash_yajnik
Linked In : https://www.linkedin.com/
No comments:
Post a Comment