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A Guide to the Home Office Tax Deduction

A Guide to the Home Office Tax Deduction © (Getty Images) Close up of a young woman doing her home finances in the evening The number of people who work from home exploded in 2020 because of the COVID-19 pandemic. Some people will be able to take a tax deduction for their home office expenses, but many will not. The law changed in 2018 and eliminated the home office deduction for people who work for an employer. You can only qualify for the home office deduction now if you re self-employed. You re not eligible if you re an employee, even if you ve been working remotely and had to set up an office in your home.

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Tax pros are taking new approaches to marketing this season

Tax pros are taking new approaches to marketing this season
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What Monopoly Teaches You About Real-Life Money

What Monopoly Teaches You About Real-Life Money GOBankingRates 2/3/2021 © NoDerog / iStock.com Monopoly Monopoly first hit shelves in 1935, and since then, more than 275 million game sets have been sold, Time reported. Although the game is ostensibly about buying and selling Atlantic City real estate, there are a number of valuable money lessons you can learn from playing the ever-popular board game. It’s Better To Invest Your Money Than To Stockpile Cash “Although having an emergency fund is a great idea, there are important drawbacks to having too much cash,” said Andrew Latham, certified personal finance counselor and managing editor at SuperMoney.com. “It’s like Monopoly players who keep a tight grip on their initial $1,500, stash away every $200 they get for passing go, and never invest in properties or hotels. Sure, they may be cash-rich at the beginning, but they will never win the game. Of course, life isn’t a zero-sum game, so you don’t lose at lif

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Married Couples: Should You File Jointly or Separately?

Married Couples: Should You File Jointly or Separately? Kimberly Lankford © (Getty Images) Side view of female professional working at table. Woman is staying safe during coronavirus pandemic. She is using mobile phone. Married couples have a choice to make at tax time: They can file their income-tax returns jointly or separately. Most married people automatically file joint returns, but there are some situations where filing separately can be better. Married filing separately is an uncommon filing status, however it can be beneficial for certain legal and strategic reasons, says James A.J. Revels, a CPA and partner at KPMG in Philadelphia. Here are some reasons to file jointly or separately:

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New twists on an old tool: Tax pros revamp organizers

Digital formats and a host of pandemic-related questions are transforming this traditional tool.

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