16/12/2023
The home office deduction is probably the most underused write-off on the 1040. This is something that people are oftentimes scared to use it. They're afraid that it draws red flags for audits. But if you are due this deduction, if you're using a space in your home, a separate room in your home, 100% specifically for your business, you need to make sure that you take this. You can also take this not only just for sole proprietorships, but also for S-corp, C-corp, partnerships. And it is so much more than just a write-off of the associated expenses or the percentage of the expenses of your home. There's other benefits in taking this. You want to take the home office deduction if you're actually using a home office. For it, you need to know all the expenses associated with your home and the square footage of the home office and the square footage of your entire home. For more information, visit IRSProb.com or call us at (833) IRS-PROB.
