Irs job related expenses deduction
Unreimbursed employee expenses tax deduction
Irs job related expenses deduction.
Key Takeaways
- Unlike remote employees, self-employed workers—whose primary place of business is at home—can claim tax deductions for home office expenses.
- Self-employed individuals can deduct individual expenses that directly pertaining to the home office and indirect expenses that help maintain a home.
- An easy route is the simplified home office deduction, which allows a self-employed individual to deduct $5 per square foot of their office for up to $1,500.
Many remote employees won't be able to to deduct their home office expenses this tax season, but self-employed workers still can.
What Can You Claim?
Only home offices that are "ordinary and necessary" for the business can be utilized while filing your taxes, said Crystal Stranger, an enrolled agent and chief executive officer of Optic Tax.
In addition, the area must be utilized "exclusively and regularly" for business. This means that it cannot double as a craft room or guest bedroom, although individuals can pu