How Much Could You Save With a Home Office Deduction?

As a self-employed, home-based business owner, you have a way to save hundreds, perhaps thousands of dollars in taxes without spending any more than your ordinary, everyday expenses. There’s a perfectly legal way for you to turn seemingly non-deductible personal expenses into deductible business expenses and lower your tax bill year after year after year.

It’s the tax deduction for business use of your home.

Every year thousands of small business owners pay too much Federal tax because they don’t understand how to figure the home office deduction or they’re afraid they’ll get audited if they do take it. Many of them underestimate the value of this deduction. They mistakenly think it’s not

worth the time to find out how to qualify for it and how to calculate it.

Here’s a free calculator you can use to estimate your potential savings.

I’ve also written a book that explains the rules and regulations in plain English. It has lots of examples to help you see if your situation qualifies and it includes information on relevant court cases. It also has sample filled-in forms. You can learn more about it here: How to Save $100’s With a Home Office Deduction.

You can purchase it from the on-line store at the International Association of Solopreneurs. It could possibly be the best $29 you invest in your business this year. By the way, I donate $1.00 from each sale to the grant fund established by IAS.

After you read it, be sure to discuss your individual circumstances with a professional tax preparer.