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J.K. Lasser's Small Business Taxes 2018
book

J.K. Lasser's Small Business Taxes 2018

by Barbara Weltman
October 2017
Beginner
720 pages
20h 12m
English
Wiley
Content preview from J.K. Lasser's Small Business Taxes 2018

CHAPTER 18 Home Office Deductions

Today over 40 million Americans work at home at least some of the time, and the number is growing. Computers, smartphones, and the information highway make it easier and, in some cases, more profitable to operate a home office. The U.S. Small Business Administration reported that 52.3% of all small businesses with no paid employees and 23.3% of those with paid employees are home-based and that they generate $161 billion in annual revenue.

As a general rule, the cost of owning or renting your home is a personal one and, except for certain specific expenses (such as mortgage interest, real estate taxes, and casualty losses), you cannot deduct personal expenses. However, if you use a portion of your home for business, you may be able to deduct a number of expenses, including rent or depreciation, mortgage and real estate taxes, maintenance, and ...

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J.K. Lasser's Small Business Taxes 2017

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Publisher Resources

ISBN: 9781119380412Purchase book