Archive for March 25th, 2005
Determining the Size of Your Home Office
Real-Estate-Owner.com: The IRS states that you can use any “reasonable” method to determine the business percentage. The two commonly used methods for figuring the percentage are: Divide the area (length multiplied by the width) used for business by the total area of your home. Example: You determine you have a home office that is 200 [...]
Claiming Your Home Office Deductions
Kansas.com: If you’re a home-based business owner, your best friends this tax season may be IRS Publications 535 and 587. The first publication lists all of the rules for deducting business expenses. The second focuses exclusively on laws regarding the business use of your home. Tax breaks are available for home-based businesses, but filers need [...]
