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Cell phone ,your car and home office and eating out are the major deductions for a home based business.
The Internal Revenue Service.(IRS), may let you use your home as a deduction on your tax return.
You can only tax the business percent of your home.
Here is how it works.
All of your home expenses could be a business deduction. Your light, water, phone rent plus whatever else you spend on your home.
If you have a condo the associate fees are part of those expenses.
Cutting your grass or just fixing your house could be a deduction.
How to get the deduction
You need the business percentage of your work area to your home.
Divide the square foot of the business area in to square foot of your home will give you your business percentage. Now add up the bills of your home and multiply that number for the business deduction.
If you have any questions just contact us. Our information is just below this.
For other home based tax tips check out the rest of our blog.
Who am I
My name is Albert, Senior Partner with Corey & Associates Tax Accountants. Since 1985 we have been helping the small business owners with their taxes. I have saved my clients lots of tax dollars. The office has generated lots of free clients by doing this. Just call me at 305-823-9228 and you find out my message. If you email me at firstname.lastname@example.org my auto responder will promote me every time. This get me the “I did not Know”. If you are in the area come by the office which is located at 1800 W 68 St suite 118,Hialeah, Fl 33014. Check out our Facebook.com/albertcorey and Youtube.com/tax1099a
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