U.S. News and World Report recently ran an article entitled “The Perils of Running a Business From Home: How the IRS and local governments can make life difficult for home-based entreprenuers.” In addition to zoning issues and complications, the author pointed out one of the biggest problem areas … the home-office deduction.
In addition to the complicated form used for taking the deduction, entrepreneurs face the ongoing challenge of recordkeeping. Tracking utility bills for electricity, heat, water bills and pest control require some time and effort.
For more information on the Home Office Deduction, check out:
Deb Howard Greenleaf, EA, CEO and Principal, of Greenleaf Accounting Services provides virtual accounting and bookkeeping services and specializes in financial management to consultants, coaches, solo professionals, and other small business owners across the US. Deb is an Enrolled Agent (EA)—an IRS-licensed tax professional—and specializes in small businesses and entrepreneurs filing Schedule C or as an LLC. As an Advanced Certified QuickBooks ProAdvisor, Deb spends her day in QuickBooks Online and specializes in providing QBO support.