Business Use of Your Home in Alaska

Curious about how to turn part of your home into a tax-saving opportunity?  Whether you’re a freelancer, small business owner, or remote worker using a home office, understanding how to properly claim deductions for business use of your home can make a significant difference at tax time. Join us for this free On Demand workshop on “Business Use of Your Home in Alaska” with David Higgins, Tax Specialist with the Internal Revenue Service (IRS), to learn everything you need to know.

David Higgins will walk you through the essential rules, requirements, and opportunities available. You’ll also gain access to helpful downloadable handouts to support your learning and application of these tax strategies.

What you’ll learn during this training:

• Simplified Home Office Deduction
• Qualifying for business use of the home deduction – Exclusive Use Test
• Regular Use Test
• Principal Place of Business Test
• Activities that don’t disqualify your home office
• Meeting Place for Customers Test
• Separate Structure Test
• Deduction limits
• Types of expenses
• Expenses related to the business activity in the home
• Business Use of the Home Expenses
• Deductible expenses
• Deduction limits – Gross Income
• Example – Determining the home office deduction
• What you can’t do
• Selling your home when you used it for business
• Illegal Tax Avoidance Schemes