Commonly Missed Deductions - Home Office

Small business owners usually know about the idea of writing off their home office expenses, but most only understand about 80% of the rules surrounding the calculations. As of 2018, employees can no longer deduct any unreimbursed business expenses – However, if you are self-employed, you can still deduct the business use % of your home – including mortgage interest, real estate tax, utilities, internet, etc. While usually not “substantial” by most standards, this is an easy deduction to claim for small business owners with legitimate home offices and can be overlooked.

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