Re: Deduction for Rent if Work at Home?
I've had a home office for 20 years - never been audited. Business use of your home is legit. Don't be a wuss, take every deduction that is offered. I knock a huge chunk of my income off by taking all of the deductions I am entitled to.
I use turbo tax software for my taxes, with regard to the home office, they compute the size of the office compared to your total square footage of your home (or apartment) and you get a deduction based on that percentage of your mortgage or rent.
For example, 2500 square foot home, 200 square foot office, 8% of total size.
Dogmeat [img]/images/graemlins/spade.gif[/img]
|