Don't Let the IRS Destroy Your Small Business: Seventy-Six Mistakes to Avoid

By Michael Savage | Go to book overview

Chapter Seven
Home-Office Deductions
When you own a business, you assume that you have a nearly inalienable right to claim a deduction for the cost of keeping an office in your home. After all, you do a good deal of work there, important work that is best done in the quiet of your den away from the pressures of your office. Naturally, you think, you ought to get a tax break for that. The fact is, however, that a home-office deduction is available to business owners only under very limited circumstances. And when it comes to the home-office deduction, business owners get into trouble in two areas:
1. They fail to take the steps necessary to qualify for the deduction.
2. Even if they qualify for the deduction, they neglect to arrange their affairs so that the deduction is worth something to them.

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