Working From Home Deduction

Working from home is ideal for many in 2019 and is packed with deductions that you may qualify for the 2020 tax season.

Working from home, similar to working in a brick and mortar office requires an operational cost.

Mortgage- if you’re a homeowner you can claim a portion of the interest-only

Rent- if you rent from a landlord you can claim a portion of the rent for your business light

Heat- you can claim a portion for any space used for your home

Office Telephone and Broadband- claiming both are options as a deduction for business.

Property Repairs- repairs in direct correlation to your business are eligible to be claimed in full.

Water- a portion to claim may be available for your business.