Go | New | Find | Notify | Tools | Reply | |
| Unapologetic Old School Curmudgeon  |
Wife has started working from home, so can I write off our internet costs? Don't weep for the stupid, or you will be crying all day | ||
|
safe & sound |
Working for a third party or self employed? | |||
|
| Too soon old, Too late smart |
http://smallbusiness.chron.com...ible-1040-31947.html _______________________________________ NRA Life Member Member Isaac Walton League I wouldn't let anyone do to me what I've done to myself | |||
|
Member |
In either situation, a deduction can be taken. if self employed, it would be a deduction on the Schedule C. If an employee, a deduction as an employee business expense on 2106 flowing to Schedule A (itemized deductions) and subject to the 2 percent of AGI threshold. In either case, you will need to establish the business percentage of the total that applies. If her income is dependent on internet access, I would lean toward 100 percent of the expense as "ordinary and necessary" to earn the income. Place your clothes and weapons where you can find them in the dark. “If in winning a race, you lose the respect of your fellow competitors, then you have won nothing” - Paul Elvstrom "The Great Dane" 1928 - 2016 | |||
|
Member |
This was changed as part of the most recent tax bill. Oddly, the deduction previously available to an employee is suspended for tax years beginning after 12/31/2017 and before 1/1/2026. So, for 2018 and the foreseeable future, must be a trade or business reported on Schedule C to claim a deduction. Speak softly and carry a | |||
|
| Help! Help! I'm being repressed!  |
Just to clarify SR's statement, it still applies to your 2017 taxes. | |||
|
| Member |
Correct. I almost went back and added that - EE business expense is history for '18-25 and may be moot anyway with the higher STD Deduction. Place your clothes and weapons where you can find them in the dark. “If in winning a race, you lose the respect of your fellow competitors, then you have won nothing” - Paul Elvstrom "The Great Dane" 1928 - 2016 | |||
|
| Powered by Social Strata |
 | Please Wait. Your request is being processed... |
|
© SIGforum 2024