This year had a lot of people working from home, and of course, the question arises, can I deduct the expenses ? After all, I have to had high speed internet, a computer, a desk, office supplies etc..
The answer until 2018 was YES, the answer after 2018 depends on if you are an employee or not.
In 2018, changes were made to the standard deduction and the standard exemption essentially doubled. Employee home office expense were classified as a Itemized Misc Deduction, subject to the 2% floor. All if the items that were in this category were eliminated.
At the time, this had a big impact on sales professionals. Sales people who normally reach into their own pocket to cover expenses found out the only way that they were going to get credit for out of pocket expenses was to get reimbursed by their employers.
This is still the case. Employers are still able to deduct employee business expenses, so if you find that you are spending your after tax money on your work, you may want to consider asking your employer for assistance!!!
Below is a link to the IRS newsroom that gives additional information.
https://www.irs.gov/newsroom/irs-reminds-taxpayers-of-the-home-office-deduction-rules-during-small-business-week
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