Friends with Tax Benefits: So You Work from Home?

As many people across the country have adapted to working from home in the last couple years, it is not surprising that many people have piqued interest over how it might impact their tax situation. Afterall, when someone runs a business out of their home, they can often claim the expenses of office supplies and potentially a portion of their rent or mortgage. Given that many employees are working out of their own house, wouldn’t it be the same?

The answer is, probably not. As the Friends with Tax Benefits hosts explore, many expenses a person with a small business might be able to deduct are actually not deductible if you are on a W2 with your employer. However, they have found other financial benefits and illustrate how this new period of our lives has impacted their own habits and behaviors around money.

Listen in to find out how Lauren saved on her car insurance, which habits Daniel expects to continue or stop as life returns back to normal, and the must-know advice Kat has for those who have chosen to pursue a digital nomad lifestyle in the last couple years. 

If you have a tax question for our resident tax expert, Kat, submit your question in the comments, and it could be answered in a future Friends with Tax Benefits episode!

 

Follow the Friends with Tax Benefits podcast on Spotify or Apple Podcasts. New episodes drop every Thursday.

The views, information or opinions expressed during the Friends with Tax Benefits podcast series are solely those of the individuals involved and do not represent those of Intuit, TurboTax or any of its brands. The primary purpose of this podcast series is to educate and inform. This podcast series does not constitute financial, legal or other professional advice or services.

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