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Your San Francisco Enrolled Agents L.J. Anderson Tax & Financial Services offers a full range of taxation and accounting services. Count on caring, personalized service from our team of Enrolled Agents, federally-authorized tax professionals. Free Initial Consultation If you need help with your money, call us today at (415) 387-0500 for free initial consultation. Please check our location, too.We are pleased to offer our clients a secure lockbox: ![]() |
American Taxpayer Relief Act On Congress finally passed extender legislation that allowed the nation to avert the fiscal cliff. The Senate and House of Representatives each approved H.R. 8, the American Taxpayer Relief Act, on January 1, 2013. The President has subsequently signed the bill into law. IRS Plans Simplified Option for Claiming Home Office Deduction Starting 2013 On January 15, 2013, the Internal Revenue Service announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes. The new optional deduction, capped at $1,500 per year based on $5 a square foot for up to 300 square feet, will reduce the paperwork and recordkeeping burden on small businesses by an estimated 1.6 million hours annually. The new option provides eligible taxpayers an easier path to claiming the home office deduction. Taxpayers claiming the optional deduction will complete a significantly simplified form. However, homowners using the new option cannot depreciate the portion of their home used in a trade or business. The new simplified option is available starting with the 2013 return most taxpayers file early in 2014. Standard Mileage Rates for 2013
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