DomePatrol2005
Super Forum Fanatic
- Joined
- Oct 10, 2004
- Messages
- 7,581
- Reaction score
- 1,408
Offline
Any familiar with itemizing? Any common itemized deductions i may be missing?
I was taught the "home office" deduction was the biggest red flag the IRS had for audits. Only do it if it is a true home office and you can prove every expense. Also medical deductions have to be 7 1/2 of your yearly income before you could deduct it (last I heard). Check out the present law.Do you work from home. Does you job require u to have a home office.
Home office deductions can be a bad wrap.Do you work from home. Does you job require u to have a home office.
Me too because who else can understand the ever changing thoughts of the US tax code.man I hate tax time. thankfully I pay some one to do all this crap for me.
A few years ago I received a large settlement. When I put this money in the bank it triggered an audit. The agent gave me no grief about my home office. She even pointed out a few things I hadn't claimed.I was taught the "home office" deduction was the biggest red flag the IRS had for audits. Only do it if it is a true home office and you can prove every expense. Also medical deductions have to be 7 1/2 of your yearly income before you could deduct it (last I heard). Check out the present law.
You definitely had a home office then. I just want to warn people to be prepared to defend it. You were audited. QED.A few years ago I received a large settlement. When I put this money in the bank it triggered an audit. The agent have me no grief about my home office. She even pointed out a few things I hadn't claimed.