Posted On December 12, 2015 at 11:34 pm in Advancing Yourself
Self-employed plumbers, veterinarians, computer consultants, and anesthesiologists have a new friend in Washington. It’s called H.R. 3407–House of Representatives Bill 3407–an act that proposes to restore the full home-office deduction to them and the thousands of other Americans who work for themselves from a home office but perform their services out in the field.
The Supreme Court sandbagged that group last year when it ruled in the Commissioner of lnternal Revenue v. Solimon case that the home-office deduction would not be available to businesspeople who plied their trade away from their home offices—even if those offices were used exclusively for business.
Despite the IRS’s argument that the court’s ruling in the case only verified existing policy, the agency has clearly taken the decision as a sign to tighten up the rules. New directions included with 1993 tax forms note that …