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Accounting and Taxation of Home Office Expenses and Deductions

Identify the requirements for claiming the home office deduction.

This topic will go in depth into practical guidance for calculating the home office deduction, as well as present recent IRS cases. The knowledge, tax saving guidance and tools on properly reporting will assist you in helping to reduce your tax liability and reduce your chances of an IRS audit.

Runtime: 99 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Requirements for Claiming the Home Office Deduction

  • Define the Home Office
  • Identify the Business Entities Allowed to Claim the Home Office Deduction

Components Comprising the Home Office Deduction

  • Determine the Amount of the Simplified Method
  • Know the Expenses Comprising the Actual Method
  • Select Between the Two Methods

The Benefits of the Home Office Deduction

  • Apply the Home Office Deduction to Reduce Tax Liability
  • Claim Other Deductions Related to the Home Office

The Potential Pitfalls That Could Trigger an IRS Audit

  • Review Recent Court Cases That Show Actions That Should Not Be Followed
  • Statistics Regarding IRS Audits by Entity Type
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on November 13, 2019.

Call 1-866-352-9540 for further credit information.

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Lawrence M. Raigrodski, CPA

Lawrence M. Raigrodski, CPA

Lawrence M. Raigrodski, CPA

  • Self-employed CPA for 7 years at Lawrence M. Raigrodski, CPA practice with an emphasis in operational, financial planning and tax advisory services for small business clients and individuals
  • Member of the Maryland Association of Certified Public Accountants, American Institute of Certified Public Accountants and Maryland Society of Accountants
  • Worked for the Internal Revenue Service for 5 years as an analyst
  • Worked for National Institute of Health for 28 years as a budget analyst
  • Registered investment advisor
  • B.S. degree in accounting, University of Maryland, College Park
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 406561
Published 2019
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