Wednesday, April 04, 2007

Taxes: Business use of home

Trying to figure out what exactly is involved in claiming business use of your home? It can be confusing trying to sort it all out, but the IRS has a publication for determining business use of your home.

Check out Publication 587 - Business Use of Your Home (Including Use by Daycare Providers)

Note that you must use the part of your home you claim as for business use both regularly and exclusively for that use. You can not claim business use of an area where the kids do their homework or you do the bills for the house, nor can you claim business use for an area that you only use occasionally for your business.

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