A taxpayer who was required by the state to keep certain records related to his business did so in the garage of his residence and took a home office deduction. The Tax Court disallowed it. The reason: a home office deduction can be taken for space in a dwelling unit used to store inventory or product samples, but records are not inventory or product samples.
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
Footer
It's important to take care of ourselves and take steps to nourish ourselves--body, mind and soul. We may have to do this in different and creative ways now that many of us are staying at home. It's still important that we take time for ourselves. #selfcare #Health