Home Office Deductions

Course Information

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Title:	Home Office Deductions
Category:	Taxation
Field of Study:	Taxes
Course Code:	M140
CPE Credits:	3.0
Price:	27.95

Description

Description:

Home Office Deduction examines the federal income tax deduction for business use of a home. It addresses the qualifications for a home office deduction and the actual expense and simplified methods of determining the deduction. In addition, it discusses the special home-office deduction rules applicable to daycare facilities and the record-keeping requirements applicable to taking a home office deduction. It considers where the deduction should be taken and the forms a tax preparer should use in connection with the deduction.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Taxation

Field of Study: Taxes

Passing Score: 70%

Technical Details: 1. Recognize the home-office deduction qualification rules; 2. Identify the types of home office use to which the exclusive use requirement does not apply; 3. Recognize the various types of taxpayer expenses that may be used to support a deduction for business use of a home; 4. Identify the rules applicable to the simplified method of figuring the home-office deduction; 5. Identify the tax forms on which a home-office deduction should be taken; and 6. Recognize the record-keeping requirements applicable to documents supporting a taxpayer's home-office deduction.

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Objectives

Objectives:

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: IRS credit for Enrolled Agents.

Profession Identifiers: CPA, EA