Filers who have more than one home-based business must be careful when claiming the home office deduction. If any of their different lines of business don’t meet the above criteria, then no home office deduction can be taken for any of them. It’s an all-or-nothing proposition. The hom...
There’s a shortage of accountants. What to do if you can’t find one for tax season 4 red flags for an IRS tax audit — and how to avoid the ‘audit lottery' You won't qualify for the home office deduction withForm W-2 income. But you may be eligible with incomereported via For...
Individuals may apply for a homestead property tax exemption if they have a primary residence and want to reduce the overall property tax bill associated with that residence. Some states offer the exemption to every homeowner, while others require individuals to meet certain criteria such as: An i...
Working from home can be a popular option when you're starting your own business or if you don't need to physically go into an office every day. Not only can it save you time and commuting costs, but if you qualify, your home office might save you some additional dollars at tax time...
How to qualify for a home loan if you’re self-employed: The already laborious home loan application process and its myriad criteria is even more painstaking for the self-employed. Here's a handy guide…
I want to let you, I’m really looking to help as many people as I can. So if you know anybody out there that’s looking to purchase a home and be qualify for home loan. Sell a home, or refinance a home. I sure would appreciate it if you could pass my information along. With...
For a lot of military households, tax preparation is simple, straightforward and free. Every year, collect the paperwork and head down to theVITA (Volunteer Income Tax Assistance) office, and the staff can help you do your taxes. Or, if you’d rather do it on your own, you can either...
One thing to keep in mind: You'll have a tax bill if and when you sell your house at a profit, Rosen says. "You'll have to pay tax on the business percentage of the gain," she said. "For example, if your home office was 10% of your home, then 10% of the gain would be...
(there is a142-page book, but who has time for that?), and DIY tax filing can seem overwhelming for individuals not versed in the U.S. tax code. If you’re a first-time tax DIYer, you’re often on your own as far as figuring out the basics of how to do taxes. Even if you...
You also need to register for Self Assessment well before the 5 October deadline after the tax year you’re declaring for. So, if you are declaring for the April 24-April 25 tax year, the deadline to register for Self Assessment is 5 October 2025. ...