Small Business Investing

Managing a Small Business

If I own a home-based business or a business that requires me to maintain a home office, may I deduct expenses related to this office?

If you use part of your home exclusively and regularly for the sole purpose of conducting your business, you may be able to deduct expenses related to the use of that room from your taxes. Depending on what percentage of your house is actually being used for business purposes, you may deduct that same percentage of your bills such as mortgage interest, insurance, utilities, repairs, and house depreciation. For further information, please consult a tax professional.


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