The article discusses tax deductions available for remote workers, including home office expenses, business equipment, and travel costs. Home office deductions can apply to both homeowners and renters, provided the space is used exclusively for work. Additionally, self-employed and certain W-2 employees can claim deductions on business equipment up to $1,050,000, given specific IRS requirements are met. Travel expenses incurred during business trips can also be eligible for deductions, with conditions regarding the nature and location of the travel. Understanding these deductions can alleviate the financial burden of remote work.
To be entitled to the home office tax deduction, workers need to use their home office space exclusively and regularly for business purposes.
Self-employed and eligible W-2 employees can also claim tax deductions for up to $1,050,000 for qualified business equipment.
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