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How to Claim Home Office Deduction as a Corporate Owner

Audio version available here:

Length: approx. 1 min 20 sec

With employee business expenses no longer deductible due to the Tax Cuts and Jobs Act, claiming a home-office deduction has become more limited. The only way to do so now is as follows: have your corporation claim it for you by reimbursing you for home office expenses. To qualify for this deduction, certain steps and qualifications need to be met. First, your home office must be used primarily and exclusively for your business. For example, you use the space for corporate administrative or management tasks. Second, draft a letter from your corporation explicitly explaining the reasons and qualifications for you to work from home as part of the business arrangement. This applies even if you are the president of the corporation writing to yourself as an employee. make sure to keep this letter for record purposes. Claiming a home office can prove an extremely advantageous tax break, but with all the rule changes brought about since the Tax Cuts and Jobs Act, you need to stay informed on how to qualify. If you want to maximize your home office deductions, please check out our video > At XQ CPA, we are here to assist you every step of the way. Contact us at 832-295-3353 or visit our website to learn more and ensure you make the most of this deduction.


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