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Thread: WFH and taxes - what are you claiming.

  1. #1
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    Default WFH and taxes - what are you claiming.

    Wife's boss wanted to know if she's claiming "detailed" WFH expenses, and if he needs to fill out some form.

    What are you people doing with this?
    Quote Originally Posted by Tik-Tok View Post
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    I'd be lying if I said I didn't disagree.

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    Did the math. The easy calculation method is the easiest and ends up being about the same. After you calculate your single office is only 3% of your home and only 3% of everything pro rated for the year its not worth all of backup/calculations ect. No need for a T2200/T2200S for the easy method.

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    https://www.canada.ca/en/revenue-age...rms/t777s.html

    too lazy to do the detailed method

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    Our work also surprisingly gave us the option to submit details and have them issue a T2200, but I'm just doing the easy $2 per day thing.

    Detailed is a lot of work because you have to go back and look at all your utility bills and then calculate how much % of your home office is compared to your whole home. I have a feeling it also increases risk of audit but probably low risk unless you're claiming exorbitant amounts.

    If you rent it could be worth the effort because you can claim rental costs (as opposed to owning where you can't claim your mortgage payments).

    I'd be curious to hear other people's experience if they go thru all the numbers and determine detailed is worth the effort.

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    Take the easy method and move on with my life.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by sabad66 View Post
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    Our work also surprisingly gave us the option to submit details and have them issue a T2200, but I'm just doing the easy $2 per day thing.

    Detailed is a lot of work because you have to go back and look at all your utility bills and then calculate how much % of your home office is compared to your whole home. I have a feeling it also increases risk of audit but probably low risk unless you're claiming exorbitant amounts.

    If you rent it could be worth the effort because you can claim rental costs (as opposed to owning where you can't claim your mortgage payments).

    I'd be curious to hear other people's experience if they go thru all the numbers and determine detailed is worth the effort.
    I have to do all of that for my wife's business annually anyway so when I do it this year, I'll check it for myself and see which ends up being a better deal.

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    Easy method. Home office is not nearly enough % of my square footage for detailed to make sense.
    Originally posted by max_boost
    Hey baller, any problem money can solve is no problem at all. Don't sweat it.

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    I think between utilities, telecom etc, I could claim on $700/mo of expenses, and office is 10% of house,
    Quote Originally Posted by Tik-Tok View Post
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    I'd be lying if I said I didn't disagree.

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    Quote Originally Posted by Strider View Post
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    Easy method. Home office is not nearly enough % of my square footage for detailed to make sense.
    At what % does it make sense in your mind?

    Serious question. My office is actually pretty big.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by ExtraSlow View Post
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    I think between utilities, telecom etc, I could claim on $700/mo of expenses, and office is 10% of house,
    Its livable area so includes finished basements. Its also only for 9 months

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    Quote Originally Posted by ExtraSlow View Post
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    I think between utilities, telecom etc, I could claim on $700/mo of expenses, and office is 10% of house,
    Utilities/telecom etc. Is only 10% claimable of the total bill, if your office is 10% of the house. So unless you're spending $7000 a month in utilities, that isn't going to work for you.

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    Quote Originally Posted by killramos View Post
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    At what % does it make sense in your mind?

    Serious question. My office is actually pretty big.
    My utilities/telecom is only about $500/month or $4500 for 9 months of WFH in 2020. Simple method gives $400, so I'd need my office to be 9% of my house (including developed basement) in order for detailed to exceed simple.
    Of course your #s will vary depending on your utility bills.

    edit: this is also assuming your office is used exclusively for work. If you go in there to postwhore on Beyond in the evening, then you have to prorate usage.
    Last edited by Strider; 02-10-2021 at 03:45 PM.
    Originally posted by max_boost
    Hey baller, any problem money can solve is no problem at all. Don't sweat it.

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    I checked for 2019 - wife's office space is 9%, utilities, etc. at 9% was about $500 for the year. There were other house related deductions but I don't think you can claim most of them for WFH.

    Assuming you were WFH for every day of the year with a standard 2,080 hour a year job (and could claim vacation days, etc.), it'd put you at $520 with the fast method.

    Pretty rough calculations but basically it means you should knock down some walls to expand your office and profit.

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    open concept house - claim the whole main floor lol

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    Quote Originally Posted by 4WARNED View Post
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    open concept house - claim the whole main floor lol
    CRA is ahead of you on that one lol
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by Strider View Post
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    edit: this is also assuming your office is used exclusively for work. If you go in there to postwhore on Beyond in the evening, then you have to prorate usage.
    Fuck.

    After I have done the detail method, I'll just take the $2/day. Office area is only 5%.
    Last edited by Xtrema; 02-10-2021 at 04:01 PM.

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    This may be useful for some of you:
    https://www.canada.ca/en/revenue-age...space-use.html
    ---

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    Quote Originally Posted by Strider View Post
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    My utilities/telecom is only about $500/month or $4500 for 9 months of WFH in 2020. Simple method gives $400, so I'd need my office to be 9% of my house (including developed basement) in order for detailed to exceed simple.
    Of course your #s will vary depending on your utility bills.

    edit: this is also assuming your office is used exclusively for work. If you go in there to postwhore on Beyond in the evening, then you have to prorate usage.
    Good news, I hear exclusively post from my phone lol

    I’m going to go with simple method, tbh I didn’t even WFH that many days in 2020, a little over 100 by my quick estimate.

    That’s ok, it’s pretty rare I’m eligible for a tax credit of any kind lol
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by kenny View Post
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    This may be useful for some of you:
    https://www.canada.ca/en/revenue-age...space-use.html
    If someone needs to be told how to calculate area and the % area of your home, should companies really be allowing these people to work from home???

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    Simple method here, the detailed method makes alot more sense if you're renting I think.

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