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Home Based Business Deduction rather Home Business Kitchen

Home Based Business Deduction rather Home Business Kitchen

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Working from Home – Claim Tax Deductions

If your room is dedicated to business, you have a potential deduction.

You can take a home business tax deduction if your business meets certain criteria.

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If your current bedroom is doubling as your office for your home-based business,

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Claim your Home Office expenses and increase your tax refund

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Tax Deductions

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However, equipment must generally be deducted over a period of years, rather than all at once.

New 20 percent deduction

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If you operate your startup from home, you may be able to claim some (or all) of your home office expenses as a tax deduction in your tax return.

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Photo: Small business equipment under $20,000 is fully deductible under the new scheme. (AFP: Joe Raedle)

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