Home Tax Deduction Start Saving Money
Home Office Tax Deduction. Did you know the deduction that will get you a tax refund from the IRS?
Your Home Office is one deduction an overlooked in most tax returns.
You see it just like having an office without paying rent.
IRS says it ok to pay rent. Taking the office deductions is like paying rent.
The government has a few simple rules that you must follow to get the deduction.
The first rule is that you can only take the square footage of the office to the size of your home or apartment.
Have someone cleaning your home could be a deduction.
Your water and Utilities will assist you in lowering your tax bills.
Home Tax Deduction Every day Expences
Paying your rent and association fees if you live in a condo is also deductible.
IRS Rule says that you can only tax a percent of your home or apartment that use as an office.
Step one is to get the square footage of your home or apartment.
Next step is to get the square footage of the work area.
Now divide that out and you get the percentage.
Take that number and multiply out by all of your household expenses.
That number is what you can deduct on your tax return.
You can not use that space for personal use.
Watching TV in that space is one example of this.
Home Office Tax Deduction
In the 35 years assisting my clients the average percent for a home tax deductions is 25 percent business use.
Your home as an office now become a major tax break on your tax return.
It will lead to a nice saving when you file a tax return.
Corey & Associates Accounting firm is the creator of home office tax deduction post.
Since 1985 has assisted our clients in achieving the best tax return without an IRS letter.
Our firm files all personal and business returns.
The office address is 1800 W 68 St Suite 118, Hialeah Fl 33014.
Just minutes away from Miami Lakes, Miami Dade, Doral, Hialeah Gardens and South Broward County.
Contact us for a free consultation. Phone 305-823-9228 and email address are albert@1040w2com.
Are you looking for an accounting firm you can trust? You just need to look at our Google and Yelp reviews to see what our clients say about us.
You see we do not have clients. We have friends and family. Clients only come once but family keeps coming for years.
Walk-ins are always welcome in our office.
Follow us on Facebook for daily tips on how to save money.
Youtube will give you some inside tips on how you can save money and build your business.
Please like and share this page. We give you permission to share this on all social media platforms.
This is powerful information that will save taxpayers where it counts in their wallets.
There is a social media share at the top of the page so go click away.