secure plus financial
2021 Tax Deductions: Home Office
What is the Home Office Tax Deduction?
If your office location is in your house, you can deduct your bills for homeowners’ insurance, utilities, security, homeowner’s association fees, maintenance and general repairs.
What are the Benefits of the Home Office Deduction?
If you qualify for home office deductions, property taxes and mortgage interest are deductible expenses. You can deduct the percentage of the square footage used for home office divided by the total square footage of your house.
What are the savings rates for the Home Office deduction?
It depends on the square footage of your house, the rent amount and mortgage payment, limited to net income.
Need help to determine the proper percentage to deduct from your home office?
Are you sabotaging your Wealth by overpaying taxes?
Hundreds of business in Texas have already taken advantage of our Tax Planning Services and are saving thousands of dollars in Tax Payments this year.