Taking Your Home Business Tax Deductions

When you have a home business (or even if you work from home as a telecommuting employee), it is possible to deduct some of the expenses associated with your home office. However, it is important that you are careful when taking advantage of these tax benefits. You have to be sure that the deductions you are taking for home business related expenses only. If your son uses your computer to do homework, it’s not really something you can deduct as a business expense. You can check with a tax professional, or the IRS to make sure you are on the right track.

Here are some of the things that you can included for a deduction when you work from home:

* Internet access

* Telephone line

* Part of your rent or mortgage

* Part of your utilities

* Home office supplies

* Computer

* Health care expenses, including health insurance premiums

* Money paid in for qualified retirement plans

* Trade publications

* Business travel expenses and mileage

* Qualified child care

So you know of other home business tax deductions?