Questions for the Tax Lady: February 1st, 2010

Check out the following new Questions for the Tax Lady answers and feel free to ask me questions through one of the links below. You can send me an email, direct message or @ reply, and I will do my best to get an answer for you!

Question #1: How do I calculate my home office deduction?

The home office deduction is actually pretty simple to calculate. First find out the exact square footage of the room, then divide it by your home’s total square footage to determine what percent of your home is dedicated to your office. You can then deduct that percentage of your rent, and utility bills on your tax return. However, keep in mind that the IRS has very strict rules related to the home office deduction. For more information, check out this entry at the RDTC Tax Help Blog.

Question #2: What should I do if I still have not received a W-2 from my employer.

For now, I would say just wait. However, if you do not get your W-2 within a week or so then I would suggest contacting your employer to verify it has been mailed. If you have difficulty reaching your employer then you can contact the IRS (1-800-829-1040) for assistance.

However, before calling the IRS you should make sure to have the following information readily available:

• Your name, address, and social security number.
• An estimated of the wages you earned last year.
• The amount of federal taxes withheld from your wages.
• The dates you began (and possible ended) employment.