Work From Home Tax Deduction (T777-WS)

It is time to file personal taxes for 2022 and one of common deduction in 2022 is the work from home expense deduction. And most of our clients have this question : to use the flat rate method or to use the detailed method? Below is a quick explanation

Temporary flat rate method

This simplies the the tax deduction to $2 per day you worked from home for a maximum of 250 days which equals to a $500 deduction. All you need is the number of days in year 2022 you worked from home.

Detailed method

If you think you have a larger claim than $2 in to the days worked - you can use the detailed method. This is more complex and the method depends on individual circumstances.

Read more on CRA website https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/calculate-expenses.html

Not sure what the best work from home deduction for you? or have other 2022 tax season questions? CANATAX is your neighborhood tax professional located right here in East Vancouver . Contact us at 604-373-0788 , email us commercial@ctpros.ca or simply fill in the form at https://canadataxpros.com/contact/

Disclaimer: This article only provides general information which is not construed as professional advice. Readers seeking professional advice must consult an experienced and a qualified professional in the respective field.