On Mar 7, 2014, at 2:01 PM, Dennis Schuette <den...@cbsds.com> wrote:
> I recently had the 'home office' discussion with my tax accountant. > Apparently a recent rule change allows for a fixed deduction of $500/year > with little documentation. It's similar to deducting the mileage rate (55.5 > cents/mile, I think) instead of vehicle expenses. > Of course, you may still track % of space and expenses if it's worth the > effort. Also, remember that the deduction is actually a depreciation, so it reduces the effective purchase price of the house. When you sell, the profit for tax purposes is the sale price minus the purchase price minus any claimed depreciation. So you might end up with a bigger tax bill later. -- Ed Leafe --- StripMime Report -- processed MIME parts --- multipart/signed text/plain (text body -- kept) application/pgp-signature --- _______________________________________________ Post Messages to: ProFox@leafe.com Subscription Maintenance: http://mail.leafe.com/mailman/listinfo/profox OT-free version of this list: http://mail.leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/cc51b1b0-64c2-4be8-b6b0-8d53690f4...@rackspace.com ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
