Those who use a portion of their house for business purposes, have an office in your home, are self-employed, or work from home, might be able to deduct associated business costs on their income tax return.?
Home-based business people are invited to attend a free workshop highlighting the official IRS position on "The Office in the Home."?Two locations will be hosting the event:??
·?Moore Public Library, 225 S. Howard, 7 p.m. today
· Norman Public Library, 225 Webster Ave., 7 p.m. Thursday in the Lowry Room.
?Michael Womack of Zero Degrees is a former tax specialist for the IRS, and will be presenting the facts, along with tips and insights into this popular, but misunderstood tax deduction.?Womack focuses on tax form 8829, covering the details line-by-line and step-by-step.
By illustrating specific examples and discussing information from his experience with the IRS, Womack will give a clear understanding of the instructions, rules, regulations, and possibilities you need to claim all legitimate business expenses.?
Womack will discuss mortgage interest, real estate taxes, rent, utilities, insurance, painting and repairs and how to assess the percentages that you can deduct.?Included in the program is a short video from the IRS, instructions on the often-forgotten home depreciation deduction, and special rules for Home Day Care Providers.?
The seminar is free and requires no pre-registration.?
For more information call Moore Public Library's Information Services Desk 793-4349 or Norman Public Library's Information Desk 701-2620.?
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Seminar for home businesses offered
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