Tuesday, January 30, 2018

Lock Down Vehicle Deductions with a Home Office


The IRS gives you two possible strategies for turning otherwise personal mileage into business mileage:

  1. Going to a temporary work location
  2. Establishing an office in the home as a principal office

The temporary work location strategy contains some real unknowns, such as what is technically considered a temporary work location and whether the work performed at that location is for one year or less.

These unknowns make it difficult or impossible to use your facts and circumstances to produce your desired business-mileage results. The easy solution is the office in the home as a principal office.

The first reason this type of home office is an easy solution is that the rules are crystal clear, making compliance easy. The second reason is that with this office you know that all trips from home for this trade or business are business trips, including the trip from your home to your regular office outside the home.


Have questions? Give us a call at (610) 863-8347 today for a free consultation!

No comments:

Post a Comment