Best Bookkeeping Services in Duluth, GA

If you have an outside office location —say, in downtown—can you have a tax-deductible office inside your home for the same business? Yes! Who says that? The IRS. Here is what the IRS says: Your home office will qualify as your principal place of business if you meet the following requirements: 1. You use it exclusively and regularly for administrative or management activities of your trade or business. 2. You have no other fixed location where you conduct substantial administrative or management activities of your trade or business. So, you can have an administrative or management office in your home and have an outside office location for other business operations. In establishing your home office, remember these 5 points: • The administrative office is a "principal" office. • You must use this office exclusively for business. • You must use this office regularly for business. • You must do your administrative work in your home office. • You must not do your administrative work in the office outside the home. Need help understanding the rules? Click the book button below.