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View Full Version : Configuring the percentage to write off for taxes



Jessi
03-21-2014, 08:03 AM
When working at home, you can write off a lot of expenses as business expenses. For example, you can write off part of your internet bill, electricity, computer expenses, etc, assuming these are all used to run your "home office."

How exactly do you configure the percentage of the expenses are technically business expenses, though? After all, you would probably still have electricity running in your house, even if you worked outside the home, so is it technically an additional business expense? Sure, but just how much? How do you figure yours?

jamiekfabela
04-17-2019, 01:52 PM
First of all calculate all your expenses, repairs and insurance. Then add the depreciation amount applicable to your house.

GardenMum
06-17-2019, 06:30 AM
When I was really struggling with these issues in the early days of my business adventures (and really, it's never ending fun! ), I got lucky and found a CPA Website that was giving away a LOT of great information for small businesses in a well organized manner. It' opened my eyes to lots of things. Perhaps it will help you. It's here:
https://www.watsoncpagroup.com/knowledgebase-blog-portal/

rojerfadrer
10-14-2019, 04:25 AM
, however, you use the phone and internet for a mix of work and personal reasons, you can only write off the percentage of their cost that goes toward your business use. For example, if roughly half of your internet usage is business related, you can write off 50% of your internet expenses for the year.

speeduser
12-28-2020, 02:51 AM
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