4.6 • 1.8K Ratings
🗓️ 26 May 2020
⏱️ 6 minutes
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0:00.0 | Welcome to the Jill On Money Coronovirus Market update. It is Tuesday morning. |
0:08.9 | I hope you all had a restful weekend. We are back at it and we want to make sure we are here for you |
0:15.6 | answering your questions if you've got a financial and investment a tax and |
0:20.8 | insurance and a state basically anything to do with money, send us an email. |
0:25.4 | Ask Jill at Jill on Money.com. Ask Jill at Jill on Money.com. So let's get into some questions from Larry we received. This question, |
0:36.5 | work from home tax deduction is the subject. Now that my employer requires us |
0:41.7 | to work from home, what can be deducted in next year's taxes? |
0:45.4 | Partial rent using second bedroom's office, internet fees, cell phone for meetings, |
0:49.6 | electricity? |
0:50.6 | What receipts bills should I be saving now for documentation? I reside in Florida. Thank you. |
0:56.5 | Larry, I've got good news and bad news. Good news is good thinking. Bad news is there's no way that you're getting any deductions for this because first of all |
1:06.1 | you're an employee and you cannot actually deduct unreimbursed business expenses anymore. |
1:13.4 | So maybe that rule changes for next year, but that's something that I wouldn't mess around with. |
1:18.6 | Also, it's a huge audit flag. |
1:20.4 | So if you're self-employed you should be doing it. |
1:22.6 | But I think as an employee I wouldn't mess around with it unless we start to find out |
1:27.6 | that you will get some benefit from that. |
1:30.8 | I doubt it though. |
1:31.8 | Okay. Wendy writes, good morning. from that I doubt it though. Okay? |
1:33.0 | Wendy writes, good morning Jill. |
1:35.0 | My husband and I were able to watch your segment on CBS this morning. |
1:39.0 | Due to the current economic conditions, |
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