Home Office Deduction: Simplified vs. Actual Method
If you work from home as a freelancer or 1099 contractor, the home office deduction is one of the most valuable write-offs available to you – and one of the most misunderstood. The IRS gives you two completely different ways to calculate it, and picking the wrong one can mean leaving real money on the table. Here’s how the simplified method and the actual expense method compare, side by side.
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