Simplifying the deduction for small businesses with an office in the home is one of SBA’s Office of Advocacy 2008 Top 10 Rules for Review and Reform. The Top 10 are drawn from over 80 rules nominated by small business owners and representatives as part of the SBA’s Regulatory Review and Reform initiative.
Submitted by the National Association for the Self-Employed (NASE) and Eric Blackledge, Blackledge Furniture:
Proposed Business Burden Reduction:
The IRS should revise the rules to permit a standard deduction for home-based businesses. Similar to the Form 1040 standard deduction, the home office business deduction should be optional. Taxpayers who wish to claim the home office deduction could choose to continue to follow the current home office deduction rules or they could choose the new standard deduction.
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- SBA's Office of Advocacy :: Small Business Regulatory Review and Reform Initiative
- SBA's Office of Advocacy :: 2008 Top 10 rules for review and potential reform