Description

This video by TV360 offers you expert advice on deducting utility bills and other home expenses if you work from your home.

Transcript

Deducting Utility Bills for Home Office Workers Real Questions Joshua: I have a home office and I would like to know how to clean up my gas and electric bills and use any other expenses that I can claim in my taxes how much and how to do it? Cindy Hockenberry: Joshua is your home office used for business purposes? If so and it’s used regularly and exclusively for a business purpose you’re entitled to deduct a portion of all utilities mortgage interest, property taxes, home owners insurance, rent, based on your business use percentage your business use percentage is determined by looking at the square footage of the space that you’re using for business compared to the square footage of your entire home.