Home Office Deduction - Updated for 2024
SKU: 02-258-01-CPE
Credit Hours: 3
CPE Category: Taxes
CE Category: Federal Tax
Delivery Method: Online PDF
Instructor: Paul J. Winn CLU ChFC
Course Description:
This course examines the federal income tax deduction for business use of a home. It addresses the qualifications for a home office deduction and the actual expense and simplified methods of determining the deduction.
Upon completion of this course, you should be able to:
- Apply the home-office deduction qualification rules
- Identify the types of home office use to which the exclusive use requirement does not apply
- Describe the various types of taxpayer expenses that may be used to support a deduction for business use of a home
- Apply the rules applicable to the simplified method of figuring the home-office deduction
- Identify the tax forms on which a home-office deduction should be taken
- Recognize the recordkeeping requirements applicable to documents supporting a taxpayer’s home-office deduction.