Self-Study
3
Basic
Taxes
There are no prerequisites.

Course 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 recordkeeping requirements for taking a home office deduction. Also covered are where the deduction should be taken and the forms a tax preparer should use in connection with the deduction.



Instructor



Course Specifics

Taxes
Mar 5, 2018
There are no prerequisites.
SS8162543
74
None


Compliance Information

103220
IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-T-00965-16-S
IRS Federal Tax Law Credits: 3
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-0937
CTEC Federal Tax Law Credits: 3
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the general requirement for exclusive use applicable to home-office deduction and the exceptions to the requirement;
  • List the requirements that apply to a taxpayer's qualifying for a home-office deduction for purposes of storage of product samples or inventory;
  • Identify the conditions a taxpayer must meet in order to qualify for the exception to the exclusive use rule when operating a daycare facility;
  • Recognize the factors that must be considered to determine if a taxpayer's home is the principal place of business for purposes of the home-office deduction; and
  • List the exceptions to the requirement that a home office must be the taxpayer's principal place of business in order to qualify for a home-office deduction.

Chapter 2

  • Distinguish between the actual expense method and simplified method of figuring the home-office deduction;
  • List the expenses normally deductible by taxpayers using a home for business purposes who use the actual expense method;
  • Recognize the limits applicable to a home-office deduction; and
  • Calculate the home-office deduction for daycare facilities.

Chapter 3

  • Identify where expenses of a home office are deducted; and
  • Recognize the recordkeeping requirements applicable to taxpayers taking a home-office deduction.


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Online Access

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hard copy
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