Use your Home Office as a Tax Deduction in 2009

There are certain requirements but if you work from home and have an office in the home, you can deduct the space along with your other business expenses on your 2008 tax filing. There are types of use needed to be able to take this very helpful business deduction. First, you use the space exclusively and regularly for your business. Or two, you use the space as storage for business inventory on a regular basis.

Deduction Computation and Reporting

The deduction is a percentage of your overall home expenses … Read more at 2008 Taxes.