When possible, you want to claim that your office in your home qualifies as a principal place of business, because this classification:
Current law gives you two ways to claim your office in the home as a principal office:
Question for you: If you have an office downtown where you spend 40 hours a week, can you claim that you have an office in your home that qualifies as a principal office if you spend only 12 hours a week working in the home office? If you said no, you are not alone. But you would also be wrong.
With the administrative or management rule, you can have your principal office in your home with 12 hours of work even when you work at your other office for 40 hours.
If you would like to discuss how this might work to your benefit, please do not hesitate to reach out to your team at Luster Tax Consulting to work through this with you. Please use the following link to book your complimentary strategy call with your team at Luster Tax Consulting.
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