I’m a W2 employee. Very disappointed to find out I can’t expense the items I purchased to work from home. Chairs, webcam, mobile hotspot, and a desk. Never worked from home full time until 2020. Thanks for the video.
Thank you for your comment. I'm sorry to hear that you're unable to deduct those expenses. Check with your state of residence, maybe they will allow a state deduction.
Note: we are prohibited by law from providing individual tax or investment advice to non-clients. Please refer to our disclaimer in the video description.
IRS allows the simplified home office deduction of $5 per sq ft to a max of 300 sq ft (instead of using the regular method). Is this deduction allowed even if you live rent free, ie with relatives and dont have any home expenses?
Thank you for your comment. It doesn't matter if you rent or own, the home office deduction can be taken as long as the requirements I mention in the video are met.
@@ACapReCap how do i Prove that im renting from my parents when im living with them? Is direct deposit to their bank acc every month sufficient? Or do we need legal leasing documents? Thank you
I work for the superior court of San Francisco and between May to September of 2020, I was working from home at least 3 days a week. Can I claim that or no?
Thank you for your comment. Unfortunately, we cannot give individual tax advice to non-clients. If you wish to inquire about our services, you can contact us using the following link: www.acapam.com/contact/
Thank you for your comment. Unfortunately, we are prohibited by law from providing individual tax or investment advice to non-clients. Please refer to our disclaimer in the video description.
Thank you for your comment. Unfortunately, we are prohibited by law from providing individual tax or investment advice to non-clients. Please refer to our disclaimer in the video description.
Thank you for your comment. Unfortunately, we are prohibited by law from providing individual tax or investment advice to non-clients. Please refer to our disclaimer in the video description.
ACap will not respond to comments seeking tax or financial advice. Please consult a CPA or CFP who is familiar with your individual circumstances.
Great info, I took good notes 📝!
Thank you!
Thank you for this information. Very helpful.
Thank you. I'm glad you enjoyed it.
I’m a W2 employee. Very disappointed to find out I can’t expense the items I purchased to work from home. Chairs, webcam, mobile hotspot, and a desk. Never worked from home full time until 2020. Thanks for the video.
Thank you for your comment. I'm sorry to hear that you're unable to deduct those expenses. Check with your state of residence, maybe they will allow a state deduction.
@@ACapReCap Didn’t even know about that. I’ll check
Good Information. Thumbs up & Subscribed.
Thank you! Happy New Year to you.
Can we also the deduct the mortgage part of home office or only mortgage interest ?
Note: we are prohibited by law from providing individual tax or investment advice to non-clients. Please refer to our disclaimer in the video description.
IRS allows the simplified home office deduction of $5 per sq ft to a max of 300 sq ft (instead of using the regular method).
Is this deduction allowed even if you live rent free, ie with relatives and dont have any home expenses?
Did you find the answer to your question? My son is in the same situation. Thanks
can you write off home office deduction when you are living with your parents and renting the 2nd floor of the house?
Thank you for your comment. It doesn't matter if you rent or own, the home office deduction can be taken as long as the requirements I mention in the video are met.
@@ACapReCap how do i Prove that im renting from my parents when im living with them? Is direct deposit to their bank acc every month sufficient? Or do we need legal leasing documents? Thank you
I work for the superior court of San Francisco and between May to September of 2020, I was working from home at least 3 days a week. Can I claim that or no?
Thank you for your comment. Unfortunately, we cannot give individual tax advice to non-clients. If you wish to inquire about our services, you can contact us using the following link: www.acapam.com/contact/
I have an LLC and I want to enclose my covered back porch and use it as my home office, can the expenses be a tax deduction?
Thank you for your comment. Unfortunately, we are prohibited by law from providing individual tax or investment advice to non-clients. Please refer to our disclaimer in the video description.
so, based on the $5 / sq ft I would be at around $780 - would that be x 12 on my taxes ?
Thank you for your comment. Unfortunately, we are prohibited by law from providing individual tax or investment advice to non-clients. Please refer to our disclaimer in the video description.
@@ACapReCap hmm can you blink once for yes and two for no? Jk I understand
wait so we do not qualify even if we are "work from home" employees? full-time work from home? not because of covid
Thank you for your comment. Unfortunately, we are prohibited by law from providing individual tax or investment advice to non-clients. Please refer to our disclaimer in the video description.