IRS Update: Home Office Deduction

Yesterday the IRS announced a new simplified option for claiming the Home Office Deduction starting this year 2013. What does this mean? This new option makes life easier for taxpayers to calculate and claim the Home Office Deduction. Before you had to fill out a 43 line form (8829) which was a burden on small businesses. the new option is capped at $1,500 and the normal home office requirements still stand. You will not be able to claim this new option until the 2014 tax season.

Patrice L Stewart
"TheTaxDaughter"
www.patricelstewart.com

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twenty five dollars!!!

Today I had the opportunity to attend an event at CPS. I will not disclose the school name I will just write about my experience and what made me write this evening. So I am a banker so part of my job is to help people make decisions regarding their finances. Many times my branch will have events scheduled where we go to organizations and try to talk to people about our products and services. One of the several characteristics that separates me from others is, I have a PASSION for educating people about the importance of being bankable as well as informing others on how to manage their money. I am an advocate for Financial Literacy and talking to the parents at the school truly opened my eyes to see how much of a need this is. So I had a table with the bank name, we had some giveaways like popular character stickers for the kids, some fake tattoos and eco friendly bags. My company was the only bank there but the other businesses were Tutoring Services at least 5 - 6 different ones. W...

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