Did you know you need to pay taxes on the sale of your home if it doubles as your home office?

Working out of a home-office definitely has its perks: There's no commute. You can show up in your pajamas. And you get to deduct a portion of your home's expenses as a business expense. However, when the time comes to sell your home, you'll end up paying a premium for that home-office convenience.

The Home Sale Exclusion doesn't apply to home offices. In the eyes of the Internal Revenue Service, a home office is considered to be a commercial property, or more specifically, a Section 1250 Property, which is subject to depreciation — and some hefty tax consequences when the property is sold.

Sounds like this is something that needs to be fixed or addressed as more and more of us are working from home. They always get the little guy.

Source: By Ideal Investment Corner - http://idealinvestment.blogspot.com/