Kiplinger

Home Office Deduction: Can You Claim This Tax Break If You Work from Home?

Like millions of other Americans, you may be working from home a lot. Perhaps you're even a full-time remote employee. There are certainly financial advantages to working from home, like saving money on commuting costs, work clothes and lunches. But, on the other hand, there are probably other unreimbursed expenses draining your wallet. For instance, you're probably paying for printer paper and ink, note pads, and other office supplies. Plus, your electric and other utility bills are likely higher since you're at home all day. And maybe you had to upgrade your Wi-Fi, too. Wouldn't it be nice if you could claim a tax deduction for your home office expenses on

You’re reading a preview, subscribe to read more.

More from Kiplinger

Kiplinger5 min read
What You Need to Know About Life Insurance Settlements
Your life insurance monthly premium can start looking less and less appealing once you’ve retired. It’s a scenario Dan Simon, a retirement planning adviser with Daniel A. White & Associates in Middletown, Del., has seen quite often, even with his own
Kiplinger3 min read
I’ve Inherited a Lot of Money. Now What?
It’s no surprise that many people who inherit millions of dollars are uncertain about what to do with their newfound wealth. The possibilities of becoming a multimillionaire overnight can be overwhelming, especially during a period when most are grie
Kiplinger2 min read
Stock Market Today: Stocks Fall as Global Banks Follow in Fed's Footsteps
Wednesday's selling carried into Thursday as investors continued to take a risk-off approach to markets following the Federal Reserve's latest policy announcement. The central bank issued its third jumbo-sized rate increase yesterday and set expectat

Related Books & Audiobooks