The IRS offers a simpler home office deduction

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Abstract: Earlier this year, the IRS announced a simplified option, also known as the “safe harbor” option, for calculating the home office deduction. Taxpayers can use the new option in tax years that begin on or after Jan. 1, 2013. This article discusses how this simplified option differs from the regular method of calculating a home office deduction in several ways. However, some might save more tax by sticking with the regular method. And, as a sidebar explains, the home office deduction can be one of several that can trigger the alternative minimum tax.