Home Office Tax Deductions – SAI CPA Services | |
If you work from home, you may be eligible for valuable home office tax deductions that can reduce your taxable income. Understanding the rules and requirements can help you maximize your savings. What Qualifies as a Home Office? To claim this deduction, your workspace must: Be used exclusively and regularly for business. Serve as your principal place of business or be a separate structure used solely for work. What Expenses Can You Deduct? Mortgage Interest & Rent – Deduct a portion based on office space usage. Utilities & Maintenance – Electricity, water, gas, and repairs can be partially written off. Depreciation – Claim the loss in value of your home office over time. Simplified Deduction Option For easier calculations, the IRS allows a simplified method: $5 per square foot of home office space, up to 300 square feet. Less record-keeping compared to the regular method. Selling Your Home? Be Aware of Tax Implications If you deducted depreciation, you may need to recapture some as taxable income when you sell your home. Additionally, the home office portion could impact your capital gains exclusion. Don’t miss out on tax savings! Whether you use the standard or simplified method, keeping records is crucial. Let SAI CPA Services guide you through the process and ensure you get the maximum deductions available. Contact Us : Facebook: AjayKCPA Instagram: sai_cpa_services Twitter: SaiCPA LinkedIn: Sai CPA Services WhatsApp: Sai CPA Channel Phone: (908) 380-6876 (908) 888-8900 1 Auer Ct, East Brunswick, NJ 08816 #HomeOfficeDeduction #TaxSavings #WorkFromHome #SmallBusinessTaxes #CPAServices #SAICPAServices ![]() | |
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Target State: New Jersey Target City : East Brunswick Last Update : Mar 11, 2025 4:08 PM Number of Views: 83 | Item Owner : Saicpa Contact Email: Contact Phone: +1 9083806876 |
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