Deductible Expenses For Home Office - Tax Deduction
You may be able to deduct a number of expenses from your taxes if you are operating a business at home. These Tax deductions are collectively referred to as home office tax deductions. The tax deductions are allowed for both self-employed individuals and employees who meet special requirements.
Some common Tax deductible expenses include the followings:
Advertising - This includes business cards and letterheads, ads in newspapers, on television, radio, etc.
Accounting/Bookkeeping - If you had to pay someone to keep your books for you, or prepare your taxes, that would be deductible.
Bank Service Charges on your business checking account
Car/Truck Expenses if your vehicle is used for your business.
Conferences that you may attend pertaining to your business.
Annual Credit Cards Fees for your business credit cards.
Depreciationon your business equipment or furniture.
Special classes or seminars you attend related to your business.
Equipment (including computers).
Home Office Furniture - you desk, chair, etc.
Home Office Expense (if you qualify)
Insurance
Interest on business credit cards or loans
Legal and professional fees.
Licenses or fees for your business.
Maintenance and repairs on equipment
Office Supplies
Internet Fees if you can prove you must be online for your business (such as Web design)
Postage
Printing/Copying
Rent of space, furniture or equipment
Telephone (if only used for your business)
Travel expenses related to your business
Uniforms or special clothing (such as steel-toe workboots)
