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Canada has a tax break for those that work from home: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/
by dleslie 6y ago
Canada has a tax break for those that work from home:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-229-other-employment-expenses/commission-employees/work-space-home-expenses.html https://www.canada.ca/en/revenue-agency/services/tax/individ...
- mindvirus 6y agoThe USA does too, but the trouble is it has to be exclusively used for working from home- so you can't have a guest room you use as an office most of the time, which is particularly tricky in cities. I wonder if that'll change in the future with more WFH.
- kube-system 6y ago> you can't have a guest room you use as an office most of the time You can if you are smart about it, because you can deduct part of a room. Deduct the area for your desk, office chair, but don't deduct the guest bed, etc.
- hugey010 6y agoI'm no tax lawyer or guru, but let's say usage is 25% bedroom and 75% principal office; you can take 75% of the square footage of the room against your total home square footage as the number for doing the deduction. Easiest is to have a dedicated space, but I imagine this is going to be a new normal now for tax filings.
- DangitBobby 6y agoThe deduction in the US is no longer available to most people working from home since Trump's tax breaks [1]. And even if it were, many people would not get it because it wouldn't be worth losing the standard deduction over. 1. https://www.forbes.com/sites/kellyphillipserb/2020/03/23/working-from-home-your-home-offices-expenses-are-probably-not-tax-deductible/#2ab257fd45f3 https://www.forbes.com/sites/kellyphillipserb/2020/03/23/wor...
- cbmuser 6y agoGermany has that, too. And probably every other country in the EU.