Taking Advantage of Tax-Deductible Spaces
<p></p> <img src=https://s3.us-east-2.amazonaws.com/dcr-apis/wp_contents/uploads/DCR-ADMIN/AdobeStock_309511566.webp alt=undefined style=height: ;width: /> <p></p> <p><em>Originally written by Virginia Passarell of Passarell Tax & Bookkeeping Services </em></p> <p>Many sole proprietors shy away from taking the home office deduction because they think it’s a red flag for a tax audit. However, there’s no reason you shouldn’t be taking every legitimate deduction you’re entitled to. Additionally, there may be more tax-deductible opportunities available to you than you realize.</p> <p>A home office isn’t the only instance where a part of your home is considered tax-deductible. The fact is, you can deduct any area that’s designated exclusively to work-related activities or supplies. This includes partial rooms (for example, if your home office is in your dining room) or even a closet that’s used to store work-related materials. Likewise, if you park your work truck in your garage or use part of your garage to store work-related equipment, this also counts as tax-deductible square footage. </p> <p><a href=https://www.diamondcertified.org/ target=_self>Use Diamond Certified Resource to find top rated companies.</a></p> <p><strong>Related Articles</strong><br><a href=https://www.diamondcertified.org/Guide/Tax-Services/ target=_self>The Essential Guide to Tax Services</a><br><a href=https://www.diamondcertified.org/find-expert-advice/ target=_self>Get Expert Advice From Owners of Top</a> <a href=https://www.diamondcertified.org/find-expert-advice/ target=_self>Rated Local Companies</a><br><a href=https://www.diamondcertified.org/membership/ target=_self>Become a Diamond Certified Preferred Member (Always Free)</a> </p>
