CONSULTING SERVICES

HOME OFFICE DEDUCTION CHECKLIST

The form that you incorporate your business under, can adversely affect your home office deduction. Please consult me prior to forming a new business to maximize the tax consequences to your business.

Home office deductions are divided into direct and indirect expenses. The best way to explain this is if an expense only benefits the home office, then it is a direct expense. If an expense benefits the whole house such as heat, then it would be considered an indirect expense. Direct expenses are 100% deductible, whereas an indirect expense is deductible only to the extent of the ratio of office space to the whole house.

Some of the items to consider deducting include:
■ Electricity, Gas, Water, Sewer
■ Rubbish
■ Maintenance
■ House Insurance
■ Cleaning Services
■ Lawn Services/ Snow services- If meeting clients at the house
■ Carpet Cleaning
■ Painting
■ Repairs specific to the office
■ Furniture
■ Computer, Printer and Scanner Expense & Internet Access
■ Call Waiting and Voice Mail Services, 2nd Business Line and Cell Phone Service
■ Security Services