In reply to mtn :
I would absolutely recommend a CPA. Ours has saved us a fortune, and the one time the IRS questioned our return, they stood up for us and took care of it. For that matter, even though they're a couple hours south of you I can give you their number. They still our taxes even though we're(mostly) out of state now.
Pete Gossett said:In reply to mtn :
I would absolutely recommend a CPA. Ours has saved us a fortune, and the one time the IRS questioned our return, they stood up for us and took care of it. For that matter, even though they're a couple hours south of you I can give you their number. They still our taxes even though we're(mostly) out of state now.
Send me a text. (Ate fore heaven)-tree six tree for O niner 7.
In reply to mtn :
Effective in 2014 the IRS has established a simplified method of calculating home offices. Largely due to the Advent of telecommuting. Very simple to do but I would suggest you have a CPA do it for you at least the first year. Because of telecommuting IRS isn't monitoring home office expenses like they used to.
IIRC it's $5 per SF subject to $1500 cap (300 sf) per year on simplified method not to exceed income.
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