Tax Tips for Realtors - Home Office Deduction

As a Realtor you might have a desk at your brokers office but also use your home substantially and regularly to conduct business. This would qualify you to take the Home Office Deduction. You can take a percentage of your mortgage interest, insurance, utilities, repairs and depreciation. To figure out your percentage your take the area of the home used for business divided by the square footage of your home. This would be the percentage of the listed expenses you can deduct on your schedule C. In this economy every penny counts.

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