Do you work from home? If so, you may be familiar with the home office deduction, available for taxpayers who use their home for business. Beginning this year, there is a new, simpler option to figure the business use of your home.
This simplified option does not change the rules for who may claim a home office deduction. It merely simplifies the calculation and recordkeeping requirements. The new option can save you a lot of time and will require less paperwork and recordkeeping.
Here are six facts the IRS wants you to know about the new, simplified method to claim the home office deduction.
Visit IRS.gov for more about this easier way to deduct your home office.
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December 10 (Employees who work for tips)
If you received $20 or more in tips during November, report them to your employer
December 16 (Corporations)
Deposit the fourth installment of estimated income tax for 2013
December 25 (Everyone)
Federal Holiday (Christmas Day)