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.
Home office. You know, many years, we’ve been taking home office for small businesses as a deduction. But coming about five years ago or so they came up with a simplified system. And I know a lot of people don’t really know this. The standard deduction 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 were, your mortgage insurance, 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.
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