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IRS Small Business Tax Workshop - Part 4 - Business Use of Your Home
Join us in partnership with the IRS in this Part 4 of 8 Series. These series are designed to help small business owners understand and fulfill their federal tax responsibilities.

Learn about business use of your home, including:

•Simplified Home Office Deduction
•Qualifying for business use of the home deduction – Exclusive Use Test
•Test Your Knowledge – Exclusive Use Test
•Test Your Knowledge – Exclusive Use Test
•Regular Use Test
•Test Your Knowledge – Regular Use Test
•Principal Place of Business Test
•Activities that don’t disqualify your home office
•Test Your Knowledge – Principal place of business test
•Meeting Place for Customers Test
•Test Your Knowledge – Meeting Place for Customers Test
•Separate Structure Test
•Test Your Knowledge – Separate Structure Test
•Deduction limits
•Types of expenses
•Expenses related to the business activity in the home
•Business Use of the Home Expenses
•Deductible expenses
•Deduction limits – Gross Income
•Example – Determining the home office deduction
•What you can't do
•Selling your home when you used it for business
•Illegal Tax Avoidance Schemes

Due to the time sensitivity of specific instructions or answers that may be provided during the sessions, these will NOT be recorded. However, the IRS does have online resources available to assist should you miss a session.

Presenter: Michael Smith, Senior Stakeholder Liaison, IRS

Michael Smith is a Senior Stakeholder Liaison with the Internal Revenue Service. As a Sr. Stakeholder Liaison, he works with all taxpayer communities, including tax practitioner organizations and community groups, to help all taxpayers comply with the tax laws.

Oct 26, 2022 09:00 AM in Central Time (US and Canada)

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