Home Office Tax Deduction S Corp!

In this video, I explain how the home office tax deduction works for an S Corp. I go over the basics of the home office tax deduction, who can easily take the deduction, and how to claim it on your tax return.
#IRS #homeoffice
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This video is for entertainment purposes only. The information portrayed in this video should not be considered as tax or legal advice. Consult with your own tax professional and attorney to get proper advice for yourself.
• Home Office Tax Deduct...

[@NguyenCPAs]

What's your home office space like?

[@marketbuy]

Hi. I understand the logic of Accountable Plan after watching this video. Thank you. Now, let’s assume my reimbursement of my home office expenses is $2500 ($10,000/25% of the home office) HOW or WHERE do you enter the $2500 on the 1120S form or TurboTax? Will it be called Accountable Plan. This is the missing element to properly record on the 1120S. Thank you

[@Mendeville]

Does this mean you can't use your business credit card for accountable plan?

[@eduardoamezcuaea7919]

Nice video, you covered all the basis and explained it very well with great examples. SUBSCRIBED!

[@khongcolong]

excellent post! thanks for the advice. keep them coming.

[@arielleflorian293]

Thank you for the video! Can you calculate the home office expense based on the simplified method ($5/sqft)?

[@DreamFirms]

Informative video!

[@lucikducik3279]

If I bailed office as an addition to my home how should I deduct the cost in my s corp

[@vikb2251]

Can you post a sample written policy.

[@storefrontflipsinc4205]

Hey thanks for the video. I live in a apartment building I rent out 2 apartments 1 for living the other for storage. We sell on items online, how to I deduct the business rent and utilities?

[@tlwebdesign1]

not sure how much this will cost, but for years I was entering my company llc number in the place of my EIN number. what do I need to do to correct?

[@junepark1005]

can you write off home office deduction when you are living with your parents and renting the 2nd floor of the house?

[@vikb2251]

Also, Do I need physical receipts? Does Scan copy works?

[@donttread5414]

Is this deduction allowed even if you live rent free, ie with relatives?

[@supernova8392]

Hi there. I know this is completely unrelated to the topic of the video but i have a question about PUA. Before the pandemic, I was working 12 hours a week (part-time). Now I have returned to work and am working 10 hours a week(part-time). Does EDD pay attention to the hours? Or does it completely disregard the hours and only pay attention to my wage in comparison to the $167 PUA?

[@NguyenCPAs]

They might only pay attention to wage.

[@supernova8392]

@@NguyenCPAs ok thank you so much for taking the time to respond.