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Businesses . . . Taxes . . . Office in the home . . .

Restrictions

The self-employed may claim these expenses, provided that they do not increase or create an operating loss. If they do, home-office expenses can only be claimed to reduce net income from the business to zero and the balance must be carried forward.

The amount carried forward from one year is deductible in the subsequent year, subject only to the same limitation in that year.

Links:

• Back to Office in the Home page

• Allowable deductions

• Calculations

• Recent court cases

• Ask yourself ...

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Last modified: 06/28/06