Don't Waste Your Money: Could stay-at-home workers face extra taxes?

Don't Waste Your Money: Stay-at-home workers could be facing extra taxes
Posted at 2:44 PM, Nov 17, 2020
and last updated 2020-11-17 15:45:35-05

If you are among the millions working from home due to the pandemic, you could be in for a bit of a shock at tax time next year.

You may have to pay some extra taxes so you don’t waste your money.

So you've gotten used to working from home and you'd like to keep doing that even if the pandemic ends next spring?

Watch out because states are considering new taxes on home-based workers.

Working from home means more time with family and less time commuting.

So why should you have to pay income tax to a city you don’t work in anymore?

It’s because they desperately need it, according to Bloomberg News.

Since the pandemic began, a growing number of cities passed laws requiring you to pay tax income tax where your company is located.

It's all about the money.

Cities like New York and Chicago could be decimated if all the people now working remotely no longer paid city tax.

It's a rule called "convenience of the employer" though there is really nothing convenient about it.

And from the doesn't that stink file, states now are thinking about an extra tax on all at-home workers.

Bloomberg News reports a proposal for a 5 percent income tax for public transit, highways and other infrastructure now not getting used as much.

Proponents say home-based workers are saving that much money with no gas, parking, mass transit and lunch fees every day.

But any new tax still stinks.

Many big companies are planning to keep workers home through next summer which will really take a toll on cities with empty offices.

As always, don’t waste your money.