The Home Office Deduction in the New Wi-Fi World

How do tax professionals deal with the mobile client in the new world of wireless access when the tax codes still refer to the telegraph as modern technology a taxpayer may use in his or her trade or business? That is the question that James A. Fellows and Michael A. Yuhas tackled in a recent issue of TAXES-The Tax Magazine. They take a close look at how the use of modern technology affects the ever-vexing question of the home office deduction, as well as the sometimes overlooked question of what is the “tax home” of a taxpayer. As you’d expect, facts and circumstances drive these taxation outcomes, but there remain many questions that are unanswered by the current tax law and guidance offered by the IRS. Documentation and careful calculations are critical in this area and Mr. Fellows and Mr. Yuhas walk practitioners through some of the areas they must consider in deciding how various situations should be handled.

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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.

Read this article from CCH’s Journal of Taxation of Financial Products.

AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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