Tax Benefits Of Home Based Businesses

If you are operating a home business, you want to take advantage of those tax deductions that are rightfully yours. Working at home allows you to deduct portions of bills that you are already paying to live there.
Certain home expenses can be deducted if you actually work in your home. It is simpler to do this if you have a room set aside solely for the business. Figure out how large that room is in proportion to the house, and you can deduct some expenses using that percentage.
For instance, if your office space takes up 10% of your house, you can deduct 10% of your heating expenses for the days you work. (If you do not work on weekends, you cannot deduct for weekends.) You can deduct items such as mortgage interest (though not your mortgage itself), electri View the rest of this article