Скачать или смотреть What Is Form 8829 For Home Office Deductions? - Tax and Accounting Coach

What Is Form 8829 For Home Office Deductions? Are you a small business owner or self-employed individual wondering how to maximize your tax savings when working from home? In this video, we explain everything you need to know about Form 8829, the key document for claiming home office deductions. We’ll start by outlining what Form 8829 is and how it helps you determine the deductible portion of your household expenses. We’ll discuss the requirements for qualifying for this deduction, including how to accurately calculate your business use percentage based on your home’s square footage. You’ll learn about the types of expenses you can claim—both direct costs like repairs in your office space and indirect costs such as utilities, mortgage interest, and property taxes. We also cover the concept of depreciation and how it can impact your deductions. Additionally, we’ll introduce the simplified method, which offers a quicker way to claim your home office deduction without detailed expense tracking. Whether you work from a dedicated room or a corner of your living space, this video provides practical tips on record keeping and IRS rules to help you stay compliant. If you're looking to reduce your taxable income legally, understanding how to use Form 8829 is essential. Subscribe for more helpful advice on tax and accounting topics to support your small business success!

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About Us: Welcome to the Tax and Accounting Coach channel! Our mission is to make tax and accounting topics approachable for everyone, whether you are a small business owner or someone looking to improve your personal finance skills. Here, you'll find content covering tax deductions, accounting basics, small business taxes, and practical tips for tax filing and bookkeeping essentials. We also share insights on IRS regulations, financial statements, and effective tax planning strategies to help you stay compliant and financially savvy.