Quote:
Originally Posted by KCUnited
Am I reading the home office tax write off stuff correctly. That it only applies to the self employed?
Wife and I have 2 dedicated offices, not bedrooms doubling as offices, but true office spaces. Was hoping there was some type of write off for that based on sq ft.
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I could be wrong, but I think there's a secret downside to doing that sort of thing. If you eventually sell the house, then it has negative tax implications since you've essentially depreciated that space. At least, that's how it works with my apartment. If I ever sell my house, I'll have a big tax bill because I've been depreciating it for two decades (or whatever my account does with it).