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Tax Tip Tuesday: Home Office Tax Deductions



Do not shy away from home office tax deductions.


The eligibility rule for claiming a home office deduction has loosened to allow more self-employed files to claim this tax break. Business owners with no fixed business location can claim a home office deduction if the space is used for administrative or management activities, even if clients do not meet there.


You are entitled to write off expenses associated with the portion of your home where you exclusively conduct business. The percentage of these deductible costs is based on the square footage of the office compared to the total square footage of the house.


This deduction is a bit tricky, but we can help! If you are self-employed, contact us today!


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