Working From Home? The IRS Warns You May Not Be Eligible for This Tax Deduction

The coronavirus has millions of Americans working from home who never did before. If you’re one of them, you may be anticipating you’re entitled to some new tax breaks due to your new work location.

Unfortunately, the IRS has issued a recent reminder about an important rule that could affect your eligibility for one key deduction that new work-from-home employees may have been thinking about claiming. 

Man looking at 1040 form with laptop and pen.

Image source: Getty Images.

Don’t count on this tax savings

For those who have suddenly found themselves doing work out of their home, the home office deduction may seem like a natural new tax break to claim. There’s just one big problem with that. As the IRS recently reminded taxpayers, the home office deduction is only available to:

  • Self-employed taxpayers.
  • Independent contractors.
  • Individuals who are working in the gig economy.

Because of the Tax Cuts and Jobs Act, the deduction is not available to

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How Working From Home Hurt The Wealthy

While lockdown has punished the mental health of many, few have paused to think about their bosses. But experts and research now show how working from home has taken its toll on business leaders, celebrities, and the wealthy. And it is only going to get worse.

“We had people coming to us who started with social drinking and then ended up with one bottle of vodka a day,” says Marta Ra, CEO of Paracelsus Recovery.

Alcoholism is just one of the affects lockdown has had on her clients, who include some of the wealthiest business leaders and celebrities in the world. “When you’re a CEO and you order around all your subordinates and now you’re sitting at home? Some people are really struggling with that because their ego is not nurtured enough.

“They’re used to having a whole armada or group of people reporting to

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Three Actions To Raise Your Visibility While Working From Home

Corporate Strategist, Trainer & Culture Fixer. Helps companies create a healthy culture with a better bottom line at Mixonian Institute.

As if dealing with a pandemic wasn’t enough. Worldwide, conversations with my clients have revealed there also lurks an emotional health crisis, a jobs crisis, a consumer behavior crisis, a data analytics crisis and a purchasing power crisis. 

Yet, we know that a crisis brings both danger and opportunity. Our opportunity is mixed in with the myriad of changes in the way we live, educate our children and work.

Being visible in your organization still matters. It’s just the way you go about it that looks different.

Being future-ready means knowing how to improve skills like communication and relationship-building. It means selling ideas, practicing empathy and giving constructive feedback, all while working remotely.

Here are three practical ways you can increase your visibility in your organization, even now.

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What happens when toxic office behavior moves online while working from home

When millions of U.S. office workers were sent to work from home in March to curb the spread of the coronavirus, employers did something few have done successfully at scale — they sent corporate culture home with them.



a person sitting in front of a laptop computer


© Provided by CNBC


For several weeks in the spring, office professionals banded together to adjust to a new way of living and working online. But as weeks of remote work have stretched into months, it’s becoming clear the toxic environment sometimes housed in office cubicles and shared break rooms is moving into workers’ homes, too.

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“If you work at an organization that has a toxic culture characterized by mean behavior, incivility, aggressive behavior and perhaps bad interpersonal treatment, that behavior and culture doesn’t stay in the building,” says Manuela Priesemuth, a professor of management at Villanova University. “When we talk about work culture, we talk about the employees’ perception

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Working From Home in a Pandemic Is Not Shirking It

(Bloomberg Opinion) — Working from home, once jokingly dismissed as “shirking” from home, is back as a pandemic lifeline for economies amid a resurgence of Covid-19 cases in Europe. Governments in Britain and France, having goaded workers back to the office after lockdown, are now urging them home again. The sound of frustrated bosses gritting their teeth can be heard across the City of London, as big firms from Goldman Sachs Group Inc. to Citigroup Inc. pause the back-to-work push while keeping the office open.



a person sitting in a room: No shirking here.


© Bloomberg
No shirking here.

There’s a sense of whiplash among white-collar workers, who just weeks ago were told that it was time to put the economy first and get back to their cubicles and open-plan desks. There should also be palpable relief. Being able to pull in a salary while safe at home is a privilege hospital staff, care workers and supermarket cashiers can’t

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Google Assistant wants to improve working from home during the pandemic



Google Assistant Routines


© Provided by BGR
Google Assistant Routines

  • Google announced a new Google Assistant feature that can help people who are still working from home during the novel coronavirus pandemic.
  • A new routine will focus on the user’s workday, reminding them of everything that’s supposed to happen during the day. The feature is customizable, so users can set their own breaks and schedules, in an attempt to mimic the regular breaks that happen naturally at the office.
  • Google is also rolling out a new Gentle Sleep and Wake feature that will let you coordinate smart lights with bedtime schedules and morning alarms.

Google announced new Google Assistant features on Wednesday that should help people adjust to working from home during the novel coronavirus pandemic. “While many of us are fortunate enough to be able to work from home during the pandemic, there’s something to be said about the in-office environment that

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Working From Home Or Cocooning?

Key News

Asian equities had a mixed day as Australia outperformed and Japan posted small losses after coming back from market holidays on Monday and Tuesday. It was a relatively quiet night on the news front. Volumes were generally light as things get eerily quiet prior to the coming early October holidays. Hong Kong and Mainland China managed small gains as growth stocks, which had been kicked to the curb, were back in vogue overnight. Hong Kong volume leaders were Tencent, which rose +0.49%, Alibaba HK, which rose +0.83%, Meituan Dianping, which rose +3.05%, HSBC, which rose

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Dealing with childcare while working at home? How employers will help

As employee benefits enrollment season rolls in, companies are weighing new ways to accommodate working parents.

About 4 out of 10 large companies polled by benefits consultancy Willis Towers Watson said they believe the programs they currently have in place do an effective job of supporting these employees.

The firm surveyed 553 U.S. employers, most of whom have at least 1,000 employees, on the week of Sept. 7.

“The reality is that employers have looked at a variety of tactics, considering the pandemic and closed schools,” said Rachael McCann, senior director of health and benefits at Willis Towers Watson.

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“In terms of back-up care, we’re still seeing that only 30% of employers have something in

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UBS CEO Says It’s Hard to Sustain Culture Working at Home

(Bloomberg) — UBS Group AG Chief Executive Officer Sergio Ermotti added his voice to a chorus of finance executives concerned about having so many employees working remotely.

It’s especially difficult for banks to create and sustain cohesiveness and a culture when employees stay at home, he said at a Bank of America conference on Tuesday. A rate of 85% of people working remotely is “not sustainable” for banks and a normal level for UBS should be about 20% to 30% at any time.



Sergio Ermotti wearing a suit and tie: Day Three Of The World Economic Forum (WEF) 2020


© Bloomberg
Day Three Of The World Economic Forum (WEF) 2020

Sergio Ermotti

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Photographer: Simon Dawson/Bloomberg

JPMorgan Chase & Co. CEO Jamie Dimon said last week that he sees prolonged remote work inflicting serious social and economic damage, while BlackRock Inc. Chief Executive Officer Larry Fink said he worries that working remotely results in a lack of productivity and collaboration.

While some big Wall Street

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Parenting And Working From Home During A Pandemic? You Can Do It!

Jan Dubauskas is the Vice President of Healthinsurance.com.

Simultaneously working from home and parenting during a global health pandemic is a challenge none of us were expecting to face. To call it stressful is an understatement. It requires adapting to a totally different environment, learning new software tools and collaborating differently with colleagues.

Many of us are also working at home with a spouse or partner, who is experiencing the same real-time adjustments and stresses. While it can be exciting and refreshing to work alongside one another, it’s also a significant adjustment for both people. With summer coming to a close, many working parents are undoubtedly anxious for their kids to head back to school. But even that will come with new challenges, as most students will still spend a lot of time doing “virtual learning” at home.

In the spring, distance learning was difficult for parents and kids.

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