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Simplified Option for Home Office Deduction

Beginning with tax year 2013, a new alternative is available providing taxpayers a simpler options for calculating home office deduction and maintaining appropriate records.  Taxpayers can now multiply the square footage of the home office by a prescribed rate, which is $5 per square foot in 2013.  The maximum deduction allowed is $1,500.  Additional information regarding this alternative can be found at IRS.gov.



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