Posts: 1,520
Threads: 132
Likes Received: 100 in 94 posts
Likes Given: 29
Joined: May 2020
Reputation:
101
Points: 26,827.88
Achievements:          (View All Achievements)
Rank: 
Didn't really occur to me before, but I've never bothered to try and claim a deduction for the amount of work I do from home, which was traditionally on evenings, weekends, time spent waiting for deliveries, etc. Now that I'll be spending a significant portion of the year working out of my house, I wonder what I should be thinking about. I do all of my work on this i7 machine that cost me a bit of cash a few years back, as I intended it to be the media server and heart of the household IT flow. I have an area of the basement where I'm set up for desk work and lab work, and purchased a new soldering iron and DC supply among some other odds and ends so that I didn't have to actually go in to the lab at my office. I guess on the occasions when I do drive down in the middle of the day, mileage should be deductible too.
Any of you guys actually tracking this stuff who weren't before?
Posts: 986
Threads: 60
Likes Received: 76 in 60 posts
Likes Given: 190
Joined: Apr 2020
Reputation:
65
Points: 33,460.08
Achievements:  (View All Achievements)
Rank:
Can't jackboot from home. Got nothing. Sorry. 
Posts: 36
Threads: 1
Likes Received: 4 in 4 posts
Likes Given: 1
Joined: May 2020
Reputation:
4
Points: 473.05
My CPA always told us that unless you never use the space for anything else, don't bother trying for it. Too much chance of an audit
Posts: 1,520
Threads: 132
Likes Received: 100 in 94 posts
Likes Given: 29
Joined: May 2020
Reputation:
101
Points: 26,827.88
Achievements: (View All Achievements)
Rank:
That was always where i kind of stood on it, because I figured that, at worst, I was leaving a couple hundred bucks on the table. Maybe that ends up not changing much here, but just something I started thinking about.
Also, I need a freaking door.
Posts: 1,520
Threads: 132
Likes Received: 100 in 94 posts
Likes Given: 29
Joined: May 2020
Reputation:
101
Points: 26,827.88
Achievements: (View All Achievements)
Rank:
(05-06-2020, 05:42 PM)Stank Delicious Wrote: Can't jackboot from home. Got nothing. Sorry.
Have you even tried?
Posts: 515
Threads: 5
Likes Received: 47 in 44 posts
Likes Given: 37
Joined: May 2020
Reputation:
47
Points: 6,728.33
Achievements: (View All Achievements)
Rank: 
(05-06-2020, 05:28 PM)Trub Lou Wrote: Didn't really occur to me before, but I've never bothered to try and claim a deduction for the amount of work I do from home, which was traditionally on evenings, weekends, time spent waiting for deliveries, etc. Now that I'll be spending a significant portion of the year working out of my house, I wonder what I should be thinking about. I do all of my work on this i7 machine that cost me a bit of cash a few years back, as I intended it to be the media server and heart of the household IT flow. I have an area of the basement where I'm set up for desk work and lab work, and purchased a new soldering iron and DC supply among some other odds and ends so that I didn't have to actually go in to the lab at my office. I guess on the occasions when I do drive down in the middle of the day, mileage should be deductible too.
Any of you guys actually tracking this stuff who weren't before? Its not too bad. I have a dedicated home office. You can also put a percentage of use on your computer. For me, it's like 50% work, 50% other work. 5% video games. 110% math.
But, right, you deduct maybe a hundred dollars or so. Never been audited, but my risk is not zero.
Posts: 2,060
Threads: 113
Likes Received: 165 in 153 posts
Likes Given: 6
Joined: Apr 2020
Reputation:
168
Points: 35,110.71
Achievements: (View All Achievements)
Rank:
Nothing constructive to add Lou, other than pay yer taxes, deadbeat.
To errybody else, sorry for the lack of posting but I'm currently getting muh ass kicked at Mexas, Inc. Feck, it's busy and taking all muh time.
Posts: 1,520
Threads: 132
Likes Received: 100 in 94 posts
Likes Given: 29
Joined: May 2020
Reputation:
101
Points: 26,827.88
Achievements: (View All Achievements)
Rank:
Yeah yeah yeah... Pay taxes to cover the bailouts we're giving to all these GimmeDat small businesses...
Posts: 986
Threads: 60
Likes Received: 76 in 60 posts
Likes Given: 190
Joined: Apr 2020
Reputation:
65
Points: 33,460.08
Achievements: (View All Achievements)
Rank:
(05-06-2020, 08:00 PM)Trub Lou Wrote: (05-06-2020, 05:42 PM)Stank Delicious Wrote: Can't jackboot from home. Got nothing. Sorry.
Have you even tried?
Oh yes.
Posts: 78
Threads: 2
Likes Received: 9 in 9 posts
Likes Given: 2
Joined: May 2020
Reputation:
9
Points: 1,055
Achievements: (View All Achievements)
Rank:
I thought about this at one point, kinda thinkin it wouldn't be worth the effort
|
