Platinum Tax Defenders Offering Tax Services For Those Working From Home During COVID-19
While the COVID-19 pandemic continues to force companies to enable their employees to work from home, Platinum Tax Defenders is offering up its services to help those who are currently telecommuting understand which tax deductions they qualify for.
LOS ANGELES, June 22, 2020 /PRNewswire-PRWeb/ --As the COVID-19 pandemic continues to force employers to enable their employees to work from home when possible, Platinum Tax Defenders the nation's top tax resolution firm is offering up their services to help telecommuting taxpayers understand which tax deductions they may be eligible for. While the deadline to file taxes for 2019 has been extended until July 15, 2020, Platinum Tax Defenders reminds taxpayers that these deductions for working from home will be eligible when filing taxes for 2020, unless those individuals began working from home at the end of 2019 or before.
"Millions of people have been working from home during the coronavirus pandemic, and what they may not realize is there are deductions they'll be able to claim on their taxes next year," said Sherri Gastelum, CEO of Platinum Tax Defenders. "It's very important for taxpayers to remember to keep receipts for any bills that may pertain to working from home, like internet charges, cell phone bills, any supplies you've had to buy, and more. While these deductions will not be able to be claimed until filing in 2021, we can help taxpayers begin to plan for next year by making sure they're keeping track of the right things.
To help taxpayers better understand what they may be able to deduct on their 2020 tax returns, the professionals at Platinum Tax Defenders are staying up to date on all of the deductions that may be possible for their clients in 2021. Furthermore, the Tax Act of 2017 eliminated many individual tax breaks for self-employed individuals or those working from home, and some of those include home-office tax deductions. However, Platinum Tax Defenders notes that this act was primarily positioned at self-employed individuals, rather than individuals whose employers are having them work from home. Traditionally, many employers will not cover expenses for working from home, such as office equipment, desks, chairs and the like. However, a new law called the Stafford Act that was expanded after the Sept. 11, 2001 terrorist attacks made it so that employers can provide tax-free assistance to employees during a disaster. However, that opportunity varies from company to company.
Therefore, it's important to work with a tax professional to ensure you are claiming the correct tax deductions on next year's returns. Some of these tax-deductible expenses may include child care, commuting costs or even funeral expenses for family members who have passed away due to COVID-19. However, home office deductions can get complicated for employees. Therefore, tax experts, including Platinum Tax Defenders, recommend consulting a tax professional before filing taxes next year. In the meantime, Platinum Tax Defenders recommends that you keep receipts for things like cell phone bills, tools, office supplies and professional subscriptions you may have had to get on your own due to working from home.
While many individuals are rushing to file their 2019 taxes by the July 15 tax deadline, Platinum Tax Defenders is also available to help taxpayers—both individuals and businesses—prepare for their tax returns next year.
"As we say at Platinum Tax Defenders, it's never too early to start too soon," said Gastelum. "If you want to get a headstart on your taxes for next year, give our office a call. We'll be glad to help."
For more information on Platinum Tax Defenders's services, back tax help, bank levy release, wage garnishment releases, offshore bank account and many more services schedule a free consultation, visit Tax Site, or call 866-866-8053.
SOURCE Platinum Tax Defenders
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