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Tax write-offs for work-from-home employees

Video Credit: KTNV Channel 13 Las Vegas
Published on September 2, 2020 - Duration: 00:46s

Tax write-offs for work-from-home employees

Half a year of a coronavirus lockdown, and with so many of us working from home, you might be hoping you could offset the high cost of those summer electric bills on your taxes.

Write-offs for employees working from home were dropped by Congress in 2018.

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Tax write-offs for work-from-home employees

US WORKING FROM HOME, YOU MIGHTBE HOPING YOU COULD OFFSET THEHIGH COST OF THOSE SUMMERELECTRIC BILLS ON YOUR TAXES.THINK AGAIN.WRITE-OFFS FOR EMPLOYEESWORKING FROM HOME WERE DROPPEDBY CONGRESS IN 20-18.THE ONLY WAY YOU COULD SAVEMONEY ON YOUR TAXES IS IFYOU'RE SELF- EMPLOYED...AND CHANGED HOW AND WHERE YOUWERE WORKING"IF YOU ARE SELF-EMPLOYED, ANDNOW INSTEAD OF GOING TO YOUROFFICE, YOU'RE WORKING FROMHOME YOU CAN DEDUCT A PORTIONOF YOUR HOME YOU'RE USING ASYOUR OFFICE."EXPERTS SAY IT'S STILL A GOODIDEA TO TRACK HOW MUCH IT'SGOOD IDEA TO TRACK HOW MUCHIT'S COSTING YOU TO WORK FROMHOME...AND CONTACT A TAX PROFESSIONALIF YOU HAVE ANY QUESTIONS.WALMART IS SET TO LAUNCH ITS

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