SIMPLIFIED HOME OFFICE DEDUCTION

Do you work from a home office?  Isn’t it a bit of a hassle to keep track of household expenses for the deduction?

Well, the IRS has come up with a “Simplified Home Office deduction” — and believe it or not, it’s probably one of the simplest things they’ve done …

Square footage of the home office X $ 5/square foot

Maximum deduction $ 1500 (maximum home office size 300 square feet)

Good idea or bad??

 

 

Coming Soon … The Much Anticipated Obamacare Health Insurance Program

Coming this fall, Obamacare begins its initial phase. Bottom line is, if you don’t have health insurance you’re going to have to get it or be penalized. If you have low income you may qualify for government assistance, but if your income for 2013 actually goes up too much, you may have to pay the subsidy back. Additionally, the application for this is at minimum 5 pages and if you have children that have to be covered, it could be as many as 14 (with one page for each child). Well, isn’t this what we expect from the government? Not only that, but if you aren’t covered under a group plan by your employer (in other words you pay for your own health insurance) there is the possibility that your plan could be cancelled because it doesn’t meet with “Obamacare” requirements. (And I thought Mr. Obama said “If you like your plan, you can keep your plan”?) I will be attending a seminar on June 12 and hopefully will have more information for you. Feel free to email me any questions you might have at this point.

SEE NEWSFLASH PAGE, UPDATED ON JUNE 14.