How to get the maximum tax advantages from your home office.

Not only does this enable many taxpayers to now claim a home office deduction, but there are also ancillary tax benefits. For example, since the home office is treated as a business location, commuting costs from the home to any other business location and back to the home become tax deductible business expenses. Also, if a computer is used in the home office, it is deemed to be business property rather than "listed property" that can only be expensed if business use exceeds 50% of total use. Therefore, you can now expense the equipment without having to track business and personal use.

These are just some of the changes that may impact you. Of course, we recommend that you speak with your tax accountant to learn about how you can maximize the tax benefits of your home office.

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