Respondents: 156 |
More and more self-employed business owners are working out of their home.
According to the U.S. Small Business Administration, home-based businesses
represent 52 percent of all firms. One tax benefit that home-based businesses
are able to make use of is the home office deduction. However, many home-based
business owners do not employ this deduction. Tell us if you take advantage of
this benefit and your opinion on options to make it easier for all home-based
businesses to take the home office deduction. |
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1. Do you currently utilize a home office for your business? 94% | Yes | 06% | No | 0% | No Opinion | |
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2. If you do have a home office, when filing your taxes do you currently
take the home office deduction by filing IRS Form 8829? 27% | Yes | 58% | No | 14% | Do Not Know | |
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3. If you have not utilized the home office deduction, please indicate
the top reason why you have not claimed this deduction? 03% | Form and instructions too complex | 10% | Criteria required to qualify for the deduction too rigid | 21% | Concerned that you may get audited by the IRS if you utilized the
deduction | 04% | Paperwork required is too burdensome and time consuming | 13% | Did not know about the home office deduction | 11% | Did not qualify for the deduction | 38% | No opinion | |
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4. If you have not utilized the home office deduction, would the option
of taking a standard home office deduction rather than itemizing encourage you
to take the deduction? 60% | Yes | 12% | No | 28% | Do Not Know | |
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5. Below are possible amounts for a standard home office deduction.
Please indicate for each whether you would take the standard deduction if
offered this amount or itemize. | | | Standard Deduction | Itemize | 1. | $500
standard deduction | 39% | 61% | 2. | $750
standard deduction | 39% | 61% | 3. | $1,000
standard deduction | 46% | 54% | 4. | $1,250
standard deduction | 50% | 50% | 5. | $1,500
standard deduction | 58% | 42% | 6. | $2,000
standard deduction | 64% | 36% | 7. | $2,500
standard deduction | 74% | 26% | |
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6. Please indicate whether you are in favor of or oppose the following
proposals that have been suggested regarding the home office deduction. | | | Favor | Oppose | No Opinion | 1. | Simplifying
and making less stringent the criteria for qualifying for the home office
deduction. | 95% | 01% | 04% | 2. | Should
the option of a standard home office deduction become available there would be a
requirement that those taxpayers who elect the standard deduction must always
utilize this method on your taxes and will not be able to itemize at a later
date. | 16% | 69% | 16% | 3. | Should
the option of a standard home office deduction become available there would be a
requirement that those taxpayers who elect the standard deduction must always
utilize this method on your taxes except if you relocate your office to another
home at which time you must elect the method (standard or itemizing) you will
utilize for that new home office. | 28% | 48% | 23% | |