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Friday, April 26, 2024

Tax write-offs for work-from-home employees

Credit: KTNV Channel 13 Las Vegas
Duration: 00:46s 0 shares 1 views

Tax write-offs for work-from-home employees
Tax write-offs for work-from-home employees

Half a year of a coronavirus lockdown, and with so many of us working from home, you might be hoping you could offset the high cost of those summer electric bills on your taxes.

Write-offs for employees working from home were dropped by Congress in 2018.

US WORKING FROM HOME, YOU MIGHTBE HOPING YOU COULD OFFSET THEHIGH COST OF THOSE SUMMERELECTRIC BILLS ON YOUR TAXES.THINK AGAIN.WRITE-OFFS FOR EMPLOYEESWORKING FROM HOME WERE DROPPEDBY CONGRESS IN 20-18.THE ONLY WAY YOU COULD SAVEMONEY ON YOUR TAXES IS IFYOU'RE SELF- EMPLOYED...AND CHANGED HOW AND WHERE YOUWERE WORKING"IF YOU ARE SELF-EMPLOYED, ANDNOW INSTEAD OF GOING TO YOUROFFICE, YOU'RE WORKING FROMHOME YOU CAN DEDUCT A PORTIONOF YOUR HOME YOU'RE USING ASYOUR OFFICE."EXPERTS SAY IT'S STILL A GOODIDEA TO TRACK HOW MUCH IT'SGOOD IDEA TO TRACK HOW MUCHIT'S COSTING YOU TO WORK FROMHOME...AND CONTACT A TAX PROFESSIONALIF YOU HAVE ANY QUESTIONS.WALMART IS SET TO LAUNCH ITS

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