Self Employment Success Huntington NY

Here are a few tax tips to make your work-at-home dream come true.

Bejsovec & Garone
(631) 549-1606
28 Biscayne Dr
Huntington, NY
 
Jeffrey S Cogas CPA
(631) 549-0707
755 New York Ave #220
Huntington, NY
 
Steven F Gross CPA
(631) 385-8323
168 Main St
Huntington, NY
 
Captree Lodge Fcu
(631) 385-9644
675 W Jericho Tpke #6
Huntington, NY
 
Mastermind Group Inc
(631) 547-1800
191 New York Ave #205
Huntington, NY
 
Zalk & Zalk
(631) 421-4646
355 New York Ave
Huntington, NY
 
Jeffrey Lewis, CFP, ChFC
7 White Deer Court
Huntington, NY
Company
Title: President
Company: Planning Financial Futures, Inc.
Type
Investment Advisor Rep: Yes
Education
SUNY Binghamton / Economics
College Of Financial Planning / CFP
Years Experience
Years Experience: 20
Service
High Yield Bank Accounts,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Medicaid,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Medicare Planning,Health Care Insura

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Raskin & Raskin
(631) 421-5140
52 Elm St #4
Huntington, NY
 
Milton Mishkit CPA
(631) 425-0940
755 New York Ave #425
Huntington, NY
 
Adams & Becker
(631) 423-6634
22 Oakwood Rd #1
Huntington, NY
 
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Self Employment Success

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It's the modern American dream, isn't it? You wake up at 9 a.m. You make yourself a homemade cup of joe. You stay in your pajamas. And you get paid too. But the IRS has a few caveats to making the work-at-home dream, well, work. Here are a few tax tips so you can stay ahead on your taxes:

Deducting Expenses for a Home Office

In 1999, the rules for deducting expenses associated with a home office were loosened significantly, allowing many people who were previously denied the deduction to begin claiming it. If you're self-employed and use a portion of your home regularly and exclusively for the record keeping and management functions of your business, and you have no other location where you regularly perform such functions, you may qualify for a home-office deduction.

The rules are trickier for employees who work at home. Keep in mind that the use of a home office by an employee must be required by the employer, not merely permitted by the employer.


Don't Get Comfortable in Your Office Furniture

Here's another caveat: if you want to write off your new home office desk chair, don't even think about sitting in it after business hours. You can deduct the cost of your office furniture only if it is used for business 100 percent of the time. Ordinarily you would depreciate that cost over several years, but the section 179 expense deduction allows you to deduct the entire cost in the year of purchase if you qualify.

No matter how you figure it, a home office is definitely a complex deduction - there are a lot of regulations that surround it. We recommend you seek advice from your tax professional if you're planning to take this one....


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