What can I deduct for my home office?
An example of an AI chatbot conversation about home office tax deductions.
What can I deduct for my home office?
You can deduct expenses like a portion of your rent or mortgage, utilities, internet, and office supplies.
Are there specific requirements to qualify for these deductions?
Yes, you must use a specific area of your home exclusively for business and it should be your principal place of business.
What if I work from home part-time?
You can still qualify, but the deductions may be prorated based on the percentage of time you use the space for business.
Do I need to keep receipts for these expenses?
Yes, it's important to keep receipts and records of your expenses in case of an audit.
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