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Home Office Deduction for Healthcare professionals made Safe and Easy

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Many of you may be under the impression that an office in your home is an IRS red flag or that you can’t take a home office deduction if you have an office at work.

Nothing could be further from the truth!

A new law makes a Home Office Deduction Available to You!

You may have more than one office for your business, and that office can be your home according to “Business Use of Home Publication” (IRS Publication 17, p. 185 and Publication 587, p 3.

Here is what you can do under the guidelines. Establish an administrative office in your home as a principle administrative office. This will help you accomplish several purposes. The primary goal is to take advantage of the tax laws as they are written. Your home office will qualify as your principal place of business for Administrative or Managerial activities and your office at your work place will function as your Clinical office.

As long as you meet these easy requirements, your home office will qualify for the deduction;

  • You use the home office exclusively and regularly for administrative or management activities of your trade or business
  • You have no other fixed location where you conduct substantial administrative or management activities of your Practice.

Establishing an office in the home that qualifies, gives you two big tax breaks; it lets you deduct your daily transportation cost between your home and another work location(s) eliminating the non-deductibility of commuting costs, AND, it lets you take advantage of deducting your home office space cost from your total living cost.

For more information please contact us at Mahan & Associates, LLC, 615-883-7800.