Income Tax-Business Use of Home Deduction
4.3 (8 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3,471 students enrolled

Income Tax-Business Use of Home Deduction

Income tax deduction for the business use of your home with demonstrations using tax forms and running tax scenarios
4.3 (8 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3,471 students enrolled
Last updated 3/2019
English
English [Auto]
Current price: $139.99 Original price: $199.99 Discount: 30% off
5 hours left at this price!
30-Day Money-Back Guarantee
This course includes
  • 4.5 hours on-demand video
  • 1 article
  • 25 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
Training 5 or more people?

Get your team access to 4,000+ top Udemy courses anytime, anywhere.

Try Udemy for Business
What you'll learn
  • Tax benefits of the business use of your home deduction
  • How to Qualify for the business use of your home deduction
  • How to calculate the business use of your home deduction
  • Rules for a daycare facility
  • How and when to use the simplified method to calculate the business use of your home deduction
  • Best practices for recordkeeping related to the business use of your home deduction
Requirements
  • Some understanding of US income tax law
Description

Business use of your home deduction including practical examples with actual tax forms that allow colleagues to see the concepts in practice and fully comprehend the law and how best to apply it in different situations, circumstances, and scenarios.

The course will discuss qualifications for the business use of the home deduction providing examples where applicable.

We will show how to figure, or calculate, the business use of the home deduction using actual expenses. We will provide demonstrations using tax forms and run scenarios using tax software to demonstrate the calculations.

The course will explain rules specific to a daycare facility and run scenarios related to a daycare facility.

We will demonstrate how to use the simplified method to calculate the business use of your home deduction, provide examples of the simplified method, and compare and contrast the simplified method to the actual expenses method.

The course will also discuss how the business use of your home deduction could affect the sale or exchange of your home and deductions for business furniture and equipment.

We will provide guidance related to recordkeeping practices for the business use of your home deduction.

Who this course is for:
  • Anybody who wants to save on taxes
  • Tax professionals
Course content
Expand all 55 lectures 04:35:19
+ Introduction
7 lectures 25:16
Documents to Download for Reference
00:01
PDF - 208 Introduction
00:08
208 Introduction
15:34
Accounting Comic Break
00:15
+ Qualifying for the Deduction
9 lectures 29:41
PDF - 211 Qualifying for a Deduction
00:08
PDF - 214 Principal Place Of Business
00:08
214 Principal Place Of Business
14:02
PDF - 217 More Than One Trade or Business
00:08
217 More Than One Trade or Business
02:04
PDF - 221 Place To Meet Patients, Clients, or Customers
00:08
221 Place To Meet Patients, Clients, or Customers
02:53
Accounting Comic Break
00:16
+ Figuring the Deduction
13 lectures 01:16:49
PDF - 224 Figuring the Deduction
00:08
PDF - 227 Insurance, Repairs, Security, Utilities, Telephone
00:08
227 Insurance, Repairs, Security, Utilities, Telephone
14:58
PDF - 231 Depreciating Your Home
00:08
231 Depreciating Your Home
13:46
PDF - 232 Depreciating Your Home Example
00:08
232 Depreciating Your Home Example
09:43
PDF - 234 Business Percentage
00:08
234 Business Percentage
06:06
PDF - 237 Deduction Limit
00:08
237 Deduction Limit
13:40
Accounting Comic Break
00:15
+ Daycare Facility
5 lectures 33:51
PDF - 241 Using the Simplified Method
00:08
PDF - 244 Simplified Amount & Examples
00:08
244 Simplified Amount & Examples
23:01
Accounting Comic Break
00:15
+ Using the Simplified Method
5 lectures 28:46
PDF - 247 Daycare Facility
00:08
247 Daycare Facility
19:27
PDF - 251 Meals Daycare Facility
00:08
251 Meals Daycare Facility
08:48
Accounting Comic Break
00:15
+ Sale or Exchange of Your Home
3 lectures 17:00
PDF - 254 Sale or Exchange of Your Home
00:08
254 Sale or Exchange of Your Home
16:36
Accounting Comic Break
00:16
+ Business Furniture and Equipment
5 lectures 28:42
PDF - 257 Business Furniture and Equipment
00:08
257 Business Furniture and Equipment
09:26
PDF - 261 Property Bought for Business Use
00:08
261 Property Bought for Business Use
18:45
Accounting Comic Break
00:15
+ Recordkeeping
3 lectures 10:11
PDF - 267 Recordkeeping
00:08
267 Recordkeeping
09:47
Accounting Comic Break
00:16
+ Where to Deduct
5 lectures 25:03
PDF - 271 Where To Deduct
00:08
271 Where To Deduct
17:05
PDF - 274 Business Expenses for Use of Your Home
00:08
274 Business Expenses for Use of Your Home
07:26
Accounting Comic Break
00:16