How do I prepare for an audit of my home office expenses?
Manage episode 436757813 series 3562735
Ever worried that claiming a home office deduction could lead to an IRS audit? Tune in to this episode of the Ask Ralph Show with Ralph Estep Jr. as he tackles the question of whether taking a home office deduction might lead to an IRS audit. How do I prepare for an audit of my home office expenses? With Ralph Estep, Jr.
In this episode of the Ask Ralph show, host Ralph Estep Jr. addresses the common concern of whether claiming home office deductions could trigger an IRS audit. Ralph offers practical advice on how to legally and confidently claim these deductions without fear. He shares a listener's question about home office expenses, highlighting the importance of proper documentation and the pitfalls of incorrect deductions through compelling examples. Ralph also covers the IRS guidelines for qualifying a home office, allowable expenses, and red flags that might attract an audit. He underscores the necessity of honest and thorough record-keeping to avoid any issues with the IRS.
00:00 Episode Overview
00:39 Listener's Question
02:06 Bible Verse
02:47 The Importance of Proper Documentation
04:26 Common Mistakes in Home Office Deductions
07:12 Qualifying and Documenting Your Home Office
10:34 Action Steps for Home Office Deductions
11:21 Recap and Final Thoughts
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