for those that rent how much of your rent do you write off each month? 25%, 50% , etc?
i'll be renting a place soon and part of it will be office use.
i'll be renting a place soon and part of it will be office use.
rent writeoffs
- Thread starter wickedDUDE
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Typically you can write off the percentage of your rent/utilities equal to the percentage of space in your home (sq feet) you use for the home office IF your home office is supportive of the enterprise that represents your primary source of income.
If you have a day job somewhere, I don't believe you can deduct it.
Disclaimer: I'm no lawyer or accountant so go get a real one.
If you have a day job somewhere, I don't believe you can deduct it.
Disclaimer: I'm no lawyer or accountant so go get a real one.
oh wow... I forgot about that. I wonder if I'll be able to write off my ridiculously expensive graduate student housing.
I wrote off about 27% this year. There are two ways to write it off. The square footage method, or the room method.
I recommend Nolo's "Deduct It" if you want to learn all the awesome advantages of working for yourself.
I recommend Nolo's "Deduct It" if you want to learn all the awesome advantages of working for yourself.
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