Tax Implications for Working at Home

Covid 19 has facilitated many changes.  If you’re like me, you’ve been working from
home for a month.  I wondered how these
changes would affect my taxes.  I went to
the experts.   

According to the IRS, if you use part of your
home for business, you may be able to deduct expenses for the business use of
your home. The home office deduction is available for homeowners and renters,
and applies to all types of homes. 

Additionally, you must show that you use your
home as your principal place of business. If you conduct business at a location
outside of your home, but also use your home substantially and regularly to
conduct business, you may qualify for a home office deduction.

For the entire “Home Office Deduction” click here: https://www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction

So, for now, I’ve taken a photo of my workspace.  I’m keeping receipts.  I’m keeping an eye on tax code.  When tax time comes next year, I’ll check with my Accountant.  You should check with yours too.

Be well!

Lori

Read More

laptop-desk-table-home-office-shelf-1397859-pxhere.com_

Lori Morton-Lockley

Lori is a Brand Strategy Manager working at Mid-West Family La Crosse and contributor to CouleeRegionJobs.com. As a former Human Resource Professional, Lori knows the challenges businesses face finding and securing good talent. Lori will work with you, using her almost thirty years in Human Resources, to determine your goals and help you find the right tactics to achieve them. Additionally, Lori works with clients in all categories to grow their business. If you have questions about recruiting employees or want to grow your business, give Lori a call.

No Tie

By Jean Taylor | October 21, 2021

Skip the fancy clothes and join us for a casual, very special night out! November 6th, at Piggy’s (Ballroom), we are in for a treat. A special night of food and beverage pairings, created by […]

Read More

Rounds for Rescues

By Jean Taylor | September 27, 2021

It was a beautiful fall day on the golf course to benefit the Coulee Region Humane Society! Thanks to everyone who joined us for Rounds for Rescues. Friday we delivered the proceeds, from the event, […]

Read More

CMN Radiothon

By Jean Taylor | September 22, 2021

Join Mid-West Family, as we embark on the largest local fundraising opportunity of the year for the Children’s Miracle Network Hospitals at Gundersen Health System! Hear from local children and families, helped by Children’s Miracle […]

Read More

Maple Leaf Parade Marshal – SAMANTHA STRONG

By Brian Jackson | September 17, 2021

Earlier this week, Oktoberfest announced that our very own Samantha Strong would be this year’s Maple Leaf Parade Marshal! There could NOT be a better choice. When she started at Z93 in 1986, the first […]

Read More

Rounds for Rescues

By Jean Taylor | August 26, 2021

Let’s play golf! Friday, September 17th at Fox Hollow Golf Course, we are hitting the links for a fun day of golf to benefit The Coulee Region Humane Society. 4 person teams for a 10am […]

Read More

Steppin’ out in Pink

By Jean Taylor | August 11, 2021

We are super excited to once again be partnered with Gundersen Medical Foundation and Steppin’ Out in Pink! The 16th Annual Steppin’ Out in Pink is scheduled for Saturday, September 11th. Sign up as an […]

Read More