The IRS Deductions Blog

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Question: Tax deduction questions?

Could someone please help me with the following tax questions:

1) I’m a business consultant for a large IT management firm. I travel extensively to client locations but also work from my HOME frequently ~ 30%. Company classifies me as “Mobile” employee – either work at client site or HOME. They do not reimburse internet/phone/office equiptment. I don’t have a “study” room but work mostly in a corner of my room set up for business work. Can I use some of the “home office” deductions?

2) My younger brother does not live with me but I help him out financially from time to time. He’s a recent college grad and unemplpoyed. Could I claim him as a dependant? What would be some rules in order to claim as dependant. He probably wont be filing a 1040EZ.

3) My condo association installed new Green A/C-Heat unit which came out of my condo fee’s. Can I claim the Green deductions ~$300?

Thanks

Answer: 1) Yes, you may take the home office deductions that apply to you. Please remember to hold on to any receipts and applicable paperwork if you were to be audited.

2) Yes, you may claim your brother if he did not make over $3000, you provided more than half of his support and if he is not an eligible to be claimed as a qualifying child on another return. He does not have to live with you as long as he is a relative.

3) Yes, you may take the deduction for the a/c unit if it has a energy star sticker on it. Please hold on to the energy star paperwork and applicable receipts.

If all of these conditions apply to you, you may take all of the credits/deductions.

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With the end of the financial year looming and a lots of cool, new tech coming consumers will be thinking about where to spend their tax refund cheques. Even those wanting an iPad, a device that many say is little more than a glorified iPod, will be getting in on the act with news that the Australian Tax Office has declared it a legitimate tax deduction for education and a “laptop” for the …

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