Why Bridal Prep Photography?
When my customers approach me to shoot their wedding, they want a fun-filled and honest set of images that tell the real story of their wedding. They are not the customers who need artificial images…
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Start a WFH Business to Save on Income Taxes Next Year
BUSINESS & TAXES
Whether you have a goal of making an extra $500 a month to help with the mortgage, $4,000 per month to pay college tuition for two kids, or just growing enough organic vegetables in your home garden to save money at the supermarket, you need to read this article today.
This is crucial tax filing information for work-from-home (WFH) employees such as writers and others are discovering. They cannot deduct their home office expenses on their taxes if employed by someone who can write off their empty office space.
The difference for most is that WFH entails doing the same thing they did at the office at home. However, gig economy usually applies to self-employed workers who are contracted per project or gig.
According to the Washington Post, “Trump’s 2017 tax overhaul killed off the deduction for an employee’s home office.” President Trump made it illegal to claim a deduction for your home office if you were employed by someone else whether or not they provided a WFH stipend for your office.
In 2020, due to the pandemic, millions of workers went from the office to full-time WFH employees without an additional benefit to pay for Zoom subscriptions, printer & ink, internet connection, pens, staplers, and more.
However, self-employed personnel can deduct 100% of their home office expenses and a portion of their mortgage or rent. Start a business, and write it off next year.
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