It is never too early to start finding deductions!
August 01, 2019
Disclaimer: This is not intended to be considered tax advice. For a full explanation, please contact your Tax Professional.
As most homeowners know, owning a home allows us to take advantage of certain tax deductions.
Some are well known, like interest on your home loan.
Well how about adding some other deductions to lower that tax liability?
Did you know that you may deduct a portion of many home expenses by starting a homebased business? No? Well you can.
If you have an extra space that you can use for a home office, then this may qualify for deductions on your income taxes. We have been doing this for years and find it easy to do.
Be sure to keep track of your monthly utility bills, and other expenses like home security.
A percentage of these expenses can be deductible.
Check with your tax professional and start keeping track today.
Every dollar counts these days, so it’s never too early to start.
Southern Breezes Real Estate
North Charleston SC
