Income Tax-Business Use of Home Deduction

Income tax deduction for the business use of your home with demonstrations using tax forms and running tax scenarios

4.50 (16 reviews)
Udemy
platform
English
language
Business Law
category
6,216
students
4.5 hours
content
Mar 2019
last update
$99.99
regular price

What you will learn

Tax benefits of the business use of your home deduction

How to Qualify for the business use of your home deduction

How to calculate the business use of your home deduction

Rules for a daycare facility

How and when to use the simplified method to calculate the business use of your home deduction

Best practices for recordkeeping related to the business use of your home deduction

Description

Business use of your home deduction including practical examples with actual tax forms that allow colleagues to see the concepts in practice and fully comprehend the law and how best to apply it in different situations, circumstances, and scenarios.

The course will discuss qualifications for the business use of the home deduction providing examples where applicable.

We will show how to figure, or calculate, the business use of the home deduction using actual expenses. We will provide demonstrations using tax forms and run scenarios using tax software to demonstrate the calculations.

The course will explain rules specific to a daycare facility and run scenarios related to a daycare facility.

We will demonstrate how to use the simplified method to calculate the business use of your home deduction, provide examples of the simplified method, and compare and contrast the simplified method to the actual expenses method.

The course will also discuss how the business use of your home deduction could affect the sale or exchange of your home and deductions for business furniture and equipment.

We will provide guidance related to recordkeeping practices for the business use of your home deduction.

Screenshots

Income Tax-Business Use of Home Deduction - Screenshot_01Income Tax-Business Use of Home Deduction - Screenshot_02Income Tax-Business Use of Home Deduction - Screenshot_03Income Tax-Business Use of Home Deduction - Screenshot_04

Content

Introduction

Introduction
Documents to Download for Reference
PDF - 205 What’s New & Reminders
205 What’s New & Reminders
PDF - 208 Introduction
208 Introduction
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Qualifying for the Deduction

PDF - 211 Qualifying for a Deduction
211 Qualifying for a Deduction
PDF - 214 Principal Place Of Business
214 Principal Place Of Business
PDF - 217 More Than One Trade or Business
217 More Than One Trade or Business
PDF - 221 Place To Meet Patients, Clients, or Customers
221 Place To Meet Patients, Clients, or Customers
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Figuring the Deduction

PDF - 224 Figuring the Deduction
224 Figuring the Deduction
PDF - 227 Insurance, Repairs, Security, Utilities, Telephone
227 Insurance, Repairs, Security, Utilities, Telephone
PDF - 231 Depreciating Your Home
231 Depreciating Your Home
PDF - 232 Depreciating Your Home Example
232 Depreciating Your Home Example
PDF - 234 Business Percentage
234 Business Percentage
PDF - 237 Deduction Limit
237 Deduction Limit
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Daycare Facility

PDF - 241 Using the Simplified Method
241 Using the Simplified Method
PDF - 244 Simplified Amount & Examples
244 Simplified Amount & Examples
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Using the Simplified Method

PDF - 247 Daycare Facility
247 Daycare Facility
PDF - 251 Meals Daycare Facility
251 Meals Daycare Facility
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Sale or Exchange of Your Home

PDF - 254 Sale or Exchange of Your Home
254 Sale or Exchange of Your Home
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Business Furniture and Equipment

PDF - 257 Business Furniture and Equipment
257 Business Furniture and Equipment
PDF - 261 Property Bought for Business Use
261 Property Bought for Business Use
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Recordkeeping

PDF - 267 Recordkeeping
267 Recordkeeping
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Where to Deduct

PDF - 271 Where To Deduct
271 Where To Deduct
PDF - 274 Business Expenses for Use of Your Home
274 Business Expenses for Use of Your Home
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Reviews

Larry
August 29, 2021
Lots of good information broken up in small pieces that makes it easier to learn. Instructor has a great, positive attitude.
Natoca
September 19, 2020
Great course!! Very informative. It reinforces the IRS Publications need to get the max allowable deductions to file accurately.
Gerald
March 9, 2020
This course is an excellent match to me because I will be working at home as a self-employed CPA. I can do clients that work at home too.

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8/26/2019100% OFF
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Related Topics

2267266
udemy ID
3/12/2019
course created date
8/26/2019
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