The world of work has changed dramatically over the past year, with many people now working remotely. With tax season upon us, it’s essential to know what deductions you can claim to reduce your tax bill. Whether you’re using taxact, turbo tax, or quickbooks tax, these platforms can guide you through the process of claiming deductions. But what exactly can you claim? Here are five tax deductions to consider when working remotely.

1. Home office expenses

The most obvious deduction for remote workers is home office expenses. If you use a portion of your home exclusively for your work, you can deduct a percentage of your home expenses, including rent or mortgage interest, property taxes, utilities, repairs, and maintenance. However, be aware that there are specific rules around this deduction, so it’s essential to ensure your home office meets the IRS’s requirements.

2. Office supplies and equipment

Another deduction you can claim is for office supplies and equipment. This can include anything from pens and paper to laptops and office furniture. If these items are used solely for your work, you can deduct their cost. Keep all your receipts to prove these purchases if the IRS ever asks for them.

3. Internet and phone expenses

If you’re working remotely, chances are you’re using your internet and phone a lot more. You can deduct a portion of these costs based on how much you use them for work. For example, if you use your internet 50% of the time for work, you can deduct 50% of your internet bill.

4. Professional development

If you’ve taken any courses or attended any conferences to improve your skills for your job, you can deduct these costs. This can include tuition fees, books, and travel expenses related to the course or conference. Just make sure the professional development is directly related to your current job.

5. Travel expenses

While travel may be limited due to the current situation, any business-related travel can be deducted. This can include airfare, hotel costs, meals, and even tips. However, the travel must be primarily for business, and you must keep detailed records of your expenses.

In conclusion, there are many tax deductions available for remote workers. By keeping detailed records and understanding what you can and can’t claim, you can significantly reduce your tax bill. Whether you’re using taxact, turbo tax, or quickbooks tax, these platforms can guide you through the process and ensure you’re claiming all the deductions you’re entitled to. Remember, every little bit helps when it comes to taxes, so don’t overlook these potential savings.