How do I calculate my home office deduction?
An example of an AI chatbot conversation about calculating home office deductions.
How do I calculate my home office deduction?
To calculate your home office deduction, you need to determine the size of your home office and the total area of your home.
What expenses can I include in the deduction?
You can include expenses like rent, utilities, internet, and office supplies that are directly related to your home office.
Is there a specific method I should use for the calculation?
Yes, you can use either the simplified method, which allows a flat rate deduction, or the regular method, which requires detailed expense tracking.
What if I use my home office for personal use too?
If you use your home office for personal use, you can only deduct the portion of expenses that relate to your business use.
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