8 Home Office Deductions

calculatorWhether it is tax season or year round – don’t forget these 8 home office deductions for your home based business:

Accounting or Consulting Services

The costs of your accountant, tax preparation services, fees for logo or website design for your business are deductible.

Advertising and Marketing

You can deduct all expenses relating to the promotion of your business which could include business cards, stationary, web site development costs and website hosting.

Business Equipment

Depending on the use of your computers, laptops, printers for your business, you can deduct part or all of those costs.

Home office

You can deduct your home office if it used exclusively and on a regular basis for your business.  If you have a lease for shared office space or have a lease for storage for your business, that is deductible as well.

Meals and Entertainment

Did you take a client out to lunch?  Meet a referral source for coffee? You can deduct 50% of the cost of business meals.

Office Supplies

All the things needed for your business operations such as paper, toner, pens, file folders are tax deductible.

Telephone & Internet Expenses

You can deduct the expenses of all business related calls.  If you have a private line for business only or dedicated business cell phone, you can deduct all of those costs.  You may deduct all or at least the percentage that the internet expenses you use in the operation of your business.

Travel

Did you go to a conference for your business?  Travel out of town to meet a supplier?  Your expenses relating to business travel are deductible.

Want more tips and advice for your awesome law practice? Check out Law Office on a Laptop, Second Edition: How to Set Up Your Own Successful Law Mobile Law Practice.

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