2007-01-21 08:04:23 · 3 answers · asked by Anonymous in Business & Finance ➔ Small Business
I suggest you visit the link listed below:
2007-01-21 08:05:35 · answer #1 · answered by Phil D 3 · 0⤊ 1⤋
I suggest you carefully read IRS Publication on the Business Use of Your Home http://www.irs.gov/publications/p587/index.html to see what you can and cannot deduct, and how to deduct it.
Note though that to qualify to claim expenses for business use of your home, you must use part of your home:
- Exclusively and regularly as your principal place of business
- Exclusively and regularly as a place where you meet or deal with patients, clients, or customers in the normal course of your trade or business,
- In the case of a separate structure which is not attached to your home, in connection with your trade or business,
- On a regular basis for certain storage use
- For rental use (see Publication 527), or
- As a daycare facility
2007-01-21 08:10:47 · answer #2 · answered by imisidro 7 · 0⤊ 0⤋
It is a tax reduction.
2007-01-21 11:03:57 · answer #3 · answered by gatorgirl 5 · 0⤊ 0⤋