Tax No Tuesday E 58: Can Virtual Office Space Offer Tax Relief? Tax Deduction Update

submitted by wycotax on 04/22/20 1

Free 30-minute consultation: TEXT Call Me NOW! NAME at 956-425-WYCO Millions of Americans are working from home to curb the spread of the coronavirus (COVID-19) and now wondering whether they can claim a tax deduction. If you use a virtual office space as part of your solution, you can deduct the monthly expenses just as you would a cell phone or office supplies you use as part and parcel of your operations. This will make you qualify by watching the 1/5 Basic Guidelines of Home Office Deductions.  1/5 Guideline: House RULES  The two house rules are: 1. Exclusive - which means if you use an extra room to run your business, you can take a deduction for that extra room. 2. Regular - which means you need to have in-person meetings with your patients, clients or customers in your home in the normal course of business. Free COVID-19 Relief PDF Download: www.wycotax.com/ WYCOTAX is an all year round, all-in-one, outsource company for your tax, payroll and bookkeeping needs. Outsourcing your tax, payroll, bookkeeping and COVID-19 relief to WYCOTAX will give you more time and financial freedom. It helps you to see a clearer picture of your numbers that will guide you to monitor the performance of your business. Moreover, you will find more time to provide value for your clients. The more satisfied clients you have, the more referrals they will generate.  Outsource TODAY!

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