{ "media_type": "text", "post_content": "New to home purchase. Is there a significant tax benefit to having a home office? I have a spare room I can convert into a home office but I usually work out of my bed or a couch.", "post_id": "5c843c09a905b0001ccd885b", "reply_count": 8, "vote_count": 3, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

New to home purchase. Is there a significant tax benefit to having a home office? I have a spare room I can convert into a home office but I usually work out of my bed or a couch.

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The latest round of tax reform completely eliminated the deduction for unreimbursed business expenses if you are an employee. No more home-office, no more mileage, etc. If you have 1099 self-employment income, you can still take the deduction.

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It’s also only $5/sq foot unless you want to be super meticulous with your records and receipts. And then agree, it’s the most common thing audited

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Sorry dude. It costs money to Make America Great Again, and you’re picking up part of the tab!

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us 🇺🇸

...and the standard deduction is way higher now.

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Also this is one of the things that most commonly gets audited so make make sure everything is by the book and that you can prove it.

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I have a home office write off expenses but it has to be Office only not sure complete impact $ wise but does help

Should have added “did” help as noted below v 2018 Tax reform impacts

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