Question
Home is 20 feet x 30 feet (it has three floors and all three floors are useable) One bedroom (10'x16') designated for Office Expenses per
Home is 20 feet x 30 feet (it has three floors and all three floors are useable) One bedroom (10'x16') designated for Office Expenses per year: Utilities $10,000.00 M&R $2,000 Mortgage Interest (3.95% and mortgage is 1.5 million) Insurance $1,500.00 Property taxes $7,000.00 What is the Allowable Office in the Home Deduction? Tax Implications (Home Office)??
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To determine the allowable home office deduction you need to calculate the percentage of your homes ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
