New Option For Home Office Deduction

“In January, the IRS issued…an optional safe-harbor method [for] taxpayers [with]… home office deductions. For years, taxpayers and tax practitioners have struggled with the recordkeeping required to claim a deduction for expenses generated by a home office. However, beginning with the 2013 tax year, taxpayers can use the safe-harbor method, which requires much less recordkeeping than the traditional actual-expense method of calculating the deduction.”