[Hidden-tech] home office deduction question

[Jan Werner]

Taking the deduction has NO effect on the value of the home.  It can 
have tax implications, and it is extremely important to follow the IRS 
guidelines to the letter if you claim it.

If you sell your home and keep the money rather than using it to buy a 
new home, the IRS could require that you pay capital gains tax on any 
depreciation savings included in the home office deduction over a 
certain number of years.

There are ways to mitigate that, and if you think you might be in that 
situation in the future, you should find yourself a new accountant.  I 
would not trust an accountant who charges extra to explain herself.

Jan Werner
_____________

tom's gmail wrote:
> ** Be sure to fill out the survey/skills inventory in the member's
> area. ** If you did, we all thank you.
>
>
> Hi fellow work-at-homeers,
>
> Is there a down-side to claiming a home office space as a tax
> deduction?
>
> Specifically wondering how it affects the value of our home over
> time?
>
> our accountant has suggested that it's not always a good idea... but
> we can't figure out her reasoning&  she'll charge us more for giving
> us a clearer answer...
>
> any info would be greatly appreciated.
>
> Regards,
>
> Tom Adams 413.575.9707 • Williamsburg, MA (from my virtual
> office/iPhone)
>
> Director/Owner: www.ReelifeProductions.com&
> http://Folktography.zenfolio.com http://me.com/ReelifeProductions
>
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