Cool that you debunked the home office/audit myth. I’ve heard that for years.

This is a great explanation on how to track and write off a home office! I downloaded some of your free templates, but I don’t seem to able to find this Home Deduction Template worksheet. Can you post a link to it here?

Hello, Miss Amanda. This is Rickey Hughes again. I have just watched your most recent video. Just to inform you, I do have a home based business in Bookkeeping and Accounting. Right now, I don't own a home. I am currently living with someone else who owns a home. However, I have my own bedroom wherein I am doing business. I think, what you made mention in the video, may not apply to me at this moment; but I think what you made mention in the video makes sense. I may have to watch the video again to get more of an understanding of it. Anyway, I thank you for sharing this video, and look forward to seeing more of your upcoming videos if you will have any. Also, if I have any questions about what I saw in the video wherein you have shared, I will let you know. Thank you again, and I hope you will keep up the good work.

Hi. Great video. Question, how does one get a copy of the spreadsheet in the video? I signed up with the link below, but received and downloaded various spreadsheets that do not align to what you're talking though in the video.

Do you have any deductible tips for owner op truck drivers? How can I maximize my write offs? Thank you and your video was very informative

Love the video What are the day care rules We started daycare in home in January 2020 where can i find the home office rules for day care?

Hi Amanda, is your home office spreadsheet available for download or is it only for your clients? Thank you.

My husband does cable, so he does not have an "office" but he has a work vehicle that he goes house to house for services in. Would this template work for someone that if you swapped the word for "office" and said "vehicle" it would apply to his work vehicle? Also his work vehicle is lease to own (which is common also for Cable Techs) would it be tax deductible? I only assume because it is similar to a home mortgage? Sorry if this is a dumb question with an obvious answer. I'm very new to this 1099 thing and your videos are so amazing. They are so clear cut. When it comes to tax stuff my brain feels like 🤪. You clearly know your stuff!!

Hi am I able to take both home office deductions federal and state i live in ny and state freetaxusa software offers it?

Hello!! How would home office deductions work if I'm a realtor (pllc) and I own properties (in my personal name). I self manage the rental properties and do a lot of work (finding the properties, the transaction, getting everything set up for tenant, etc) my pllc is run as an scorp and my rentals are on a schedule e... Do I need to designate how much of the home office deductions go to what "business"? Thank you for any information :)

Great video! So for Home Office Expenses how would I enter my Deductible Mortgage Interest if my total interest is $20,000, my house is 2,000 sq.ft, and my office is 500 sq.ft. Would I enter $5,000 for Direct and $15,000 for indirect?

@katiejohn2311

4 жыл бұрын

I would like to know this answer also. She skipped over that. I was thinking you put the whole amount of mortgage interest as indirect and the software calculates the percentage for you. Need clarification on this.

@businessfinancecoach

4 жыл бұрын

No it's an indirect expense only (because it's one expense for the entire house). You enter the total amount under indirect expense. If you Itemize, you should also enter the total amount under mortgage interest for the itemized deductions (form 1098). The amount on schedule A will automatically be reduced by the amount on schedule C. www.freetaxusa.com/help/display_faq.jsp?mortgage-interest-deductible-for-home-office-deduction&faq_id=1131

I'm a W-2 employee who also created an LLC a couple of years ago. Right now, I use earnings from my W-2 job to "fund" my business which didn't earn any income for 2019. I rented an apartment near my "job" and maintain a home office at my home, which I've been using exclusively since my job instituted work-at-home-directives due to the Cornovirus/COVID-19. I'm not sure if I should write off the home office, the apartment plus expenses, or both. Can you advise?

Question about the Free Taxes USA website: I live in a home that my boyfriend bought and owes but my name is not on the mortgage. How would i file then since i'm not a renter nor home owner?

@businessfinancecoach

3 жыл бұрын

Hi Mariana! that doesn't effect how you file - just answer the questions... If you have a business and are wondering if you can take a home office deduction, you would not be able to since you don't have any expenses

Hi. I'm a full time brand Ambassador and I also have a part time w2 employee job, all these roles are in the experiential marketing field. When it comes to taxes I'm so confused. Any insight?

@businessfinancecoach

4 жыл бұрын

You don't get to deduct a home office for your job, so you only get the deduction if you say you use the office exclusively for business.

@businessfinancecoach

4 жыл бұрын

Doesn't matter that the skills are the same - W-2 gets no deductions, business gets deductions. End of story. :)

Hi! I am an newcomer to the country. My self-employment income is less than 10000. But TurboTax said I should pay 700+ taxes. Do they have to return it to me as a tax refund or they do not should take them it all? Do you think that FreeTaxUSA whould be better than TurboTax for me? Thanks in advance!

@businessfinancecoach

4 жыл бұрын

the republican party did away with a no tax under 10k bracket nearly 20 years ago. Rate is 10% plus self-employment taxes, so it sounds like you deducted expenses right. TurboTax will cost you more - I recommend freetaxusa for everyone. Check out the other videos I mentioned linked in the description!

How do we hire you? There's no obvious way to hire your services.