Part Time Work At Home Equals Office Deduction: Sometimes!
Posted by admin on Nov 21, 2007
If you work within your home only part time, you may not believe that you can take the home office tax deduction. Yet, this may not be the case. This tax law allows for the expenses of your office to be considered a business expense. Under this law, a portion of your mortgage, your home insurance, your utilities and other costs associated with “running” your office may be deductible.
This is not true, though, for those that use the office space for both business and work. And, it must be used regularly. For those that work part time from home, as long as the location is solely used for business and is used on a regular basis, then it may constitute a deduction.
The requirements for this deduction are very strict. Do take the time to accurately calculate these costs.