Tax Tips: Working from Home and Expecting Some Tax Deductions? Not so Fast

With the COVID-19 pandemic changing the way nearly everyone works in 2020, many people have found themselves working from home. While it is true that some home office expenses can be tax deductible, there’s a specific distinction that taxpayers should be aware of.

As a result of the Tax Cuts and Jobs Act of 2017, for the tax years 2018-2025, you may not be able to deduct home office expenses if you are an employee. This is different than working from home and being self-employed or an independent contractor. These types of workers may still be able to write off some of their home office expenses.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

Tip adapted from[8]
[8], March 23, 2020