Tax for worrking from home
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joshua
Apprentice
Joined: 01 Apr 2005
Posts: 6
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 Posted: 02/27/08 - 05:19 Post subject: |
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| Hello! Ever since I was little my great desire was to work from home. I have worked at the office for couple of years and I realized that I'm not comfortable with the fact of being in the suit every day. Of course this is not the only reason why I'm interested in working at home. What is with the taxes around here? I heard that there are some tax reliefs if I work from home, is it true? |
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sergio
Apprentice
Joined: 19 Jun 2007
Posts: 5
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| Posted: 03/27/08 - 21:14 Post subject: |
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| Many of us like the idea of working from home. Some 19 million of us precisely, I included. There are many good things about working from home, such as that we are able to work in t-shirts and jeans and of course exemption of office stress. One of the main reasons for choosing working from home is definitely that there are some nice tax breaks. There are two ways for working from home. First is when we work from home for someone else and the second one is when we work from home for ourselves. When you work for someone else it is very important that you ask your boss to write a letter stating that you could work from home at the convenience of the company. This way you will be free of paying some income taxes. If you work for yourself then there are some home office expenses. First of all, you must have an area of your home only for business purposes. But, be aware, once you have deducted the area of your home for business purposes, in case that you want to sell the house you will have to pay some extra taxes on that area of your house. |
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