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What Tax Credits Can You Claim For A Homebase Business?

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    You won't claim tax credits for a home based business. What happens is you business expenses. This is a direct reduction in gross income to arrive at adjusted gross income for tax. You can write off the portion of you home used exclusively for business. This would be the total square footage that is your office divided by the total square footage of your home. Then you can write off that portion of interest, taxes, insurance, utilities, and other general expenses of the total home. Plus any direct expenses that are for the office itself. Plus you equipment and other business expenses at the total cost.  This is not all but is a good general idea of what you are entitled to deduct.
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    Countvak  

    answered 1 year ago

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