Do home office, internet, computer usage etc count in tax deduction?
1
I am a sole Proprietorship in California. Where can I find a list of acceptable or not acceptable business expenses I am allowed to deduct from my income. Do I need to reimburse myself in anyway before reporting expenses?
Tax Accounting Expenses Sole Proprietorship
-
This is a question to ask your accountant. Beware of course that you may need to declare some of these 'business' usages to various providers if you wish to claim the tax benefits, and this in turn may raise the prices beyond the anticipated savings. – Nick Stevens 12 years ago
1 Answer
1
It's called the "Home Office Deduction." It's based on the percentage of square footage in your home that you use exclusively for business. Use IRS Form 8829 to claim it, or let your tax accountant plug in the numbers for you when she does your return; her tax software will make the calculations and generate the necessary paperwork automatically.
-
Good job on the link find. – Ross Mann 11 years ago
Your Answer
Not the answer you're looking for?
Ask your own question
or browse other questions in these topics:
