Question
Joe Smith operates a consulting business out of a dedicated space in his home. It is his principal place of business. With respect to the
Joe Smith operates a consulting business out of a dedicated space in his home. It is his principal place of business. With respect to the items that he can deduct, which of the following statements is correct?
Joe can only deduct a pro rata share of operating costs and utilities.
Joe can only deduct a pro rata share of operating costs, utilities, and property taxes.
Joe can only deduct a pro rata share of operating costs, utilities, property taxes, and mortgage interest.
Joe can deduct a pro rata share of operating costs, utilities, property taxes, mortgage interest and CCA.
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