Why is the home-office deduction so important? Is it really that different from other business deductions? The answer is YES!
There are two reasons why this deduction is important for every single business owner and is in a class of its own:
1. It’s super simple to qualify for the deduction. In fact, there’s a good probability you already qualify. And if you don’t qualify yet, we’ll show you exactly how you can in a cinch.
2. It won’t cost you a penny more than what you already pay to get this deduction. Unlike other deductions that require additional spending in order to realize an expense, the substantial home-office tax benefits don’t require an outlay of any additional cash.
But your biggest dollar benefit may come when your home office qualifies as an administrative office that turns personal commuting mileage into business mileage.
Maybe you’re not familiar with the home-office deduction and want to learn more. Or maybe you’re just not well versed in the requirements to qualify for this deduction. So where do you even start?
We specialize in helping clients clarify their taxes so they keep more of their money. Many small business owners who come to see us in Fort Worth, TX generally do not know the requirements to qualify for the home office deduction. Whether you own your home or rent, you should have a home office to help reduce your taxes. And regardless of how you operate your business (say, as a proprietorship, LLC, or corporation), the home-office deduction can save you thousands in taxes.