Home Business Tax Deductions
August 2nd, 2009
Question: Home Based Business Tax Deductions?
I have a home based business. Let’s say that I purchase a computer that is needed for the business. I know that this is considered a business expense and is tax deductible. Do I need a certain amount before they can be taken off taxes? For instance I know you have to have a certain amount of medical expenses before you can deduct them. Is it the same for business expenses?
Answer: Contact the IRS local office or website for specific help.
If the computer is used for a home business,you cannot have any games installed (even if you don't play them).
You might not be able to deduct the purchase outright,but depreciate the value over a few years.
You might want to invest in a "Home and Business" financial software to keep personal and business records separate.
Related Home Business Tax Deductions Products:
Tax Deductions Finder - Find More Deductions With A Home Business
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