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ATTACHMENT 6 I ELIGIBILITY INCOME and DEDUCTION CHECKLIST Form

ATTACHMENT 6 I ELIGIBILITY INCOME and DEDUCTION CHECKLIST Form

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how to deduct a home office on your taxes [Music] the CPA will go into further detail if your office space is located in your house you can deduct your bills for utilities homeowners insurance homeowners association fees security and general repairs and maintenance mortgage interest and property taxes or deductible expenses if you qualify for home office deductions you can deduct the percentage of the square footage of your office divided by the total square footage of your house you would calculate the tax rate times savings if your house is 4 000 square feet and your office is one thousand square feet and your rent is four thousand a month twenty five percent or one thousand a month is deductible which is twelve thousand a year times the income tax rate savings ranges depends on the square footage of your house and the amount of your rent and mortgage payment limited to net income

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