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Home Office Deductions (1039 hits)

I know a lot of people want to claim t they have home based business's but can you actually claim the proper deductions? Having a home based business is great because of the over 400 tax deductions that are allowed.
If your home office is your principal place of business, defined any the IRS must be regularly used (not just on occasion) to generate sales, training, meetings and is the sole fixed location where you conduct your administrative or management activities.
Meeting these requirements qualifies your to take the homeoffice deductions.
There is also another benefit if you operate out of another location you are still able to take the deduction plus the cost of rent you can use the deduction.
Be sure to check IRS.gov for more information.
Posted By: Rhonda Cox
Tuesday, October 11th 2016 at 8:41AM
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