Home Office Standard Deduction

Home Office Standard Deduction
Dr. Friday Tax Tips - One Minute Mo...

 
 
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Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one minute moment.

Dr. Friday 0:12
Home office. For many years, we’ve been taking home office for small businesses as a deduction. But about five years ago or so they came up with a simplified system. I noticed a lot of people don’t really know that there’s a standard deduction, which is $5 per square feet up to 300 square feet. That way, you don’t have to worry about taking the square footage of how much utilities are, your mortgage interest, your property taxes, all these different things. All that is straight out five times up to 300 square feet. You might want to find a simplified manner that is a little bit easier. Call me if you’ve got questions at 615-367-0819.

Announcer 0:52
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