How to writeoff your home expenses to pay less taxes
We’re talking about writing off your:
Rent
Mortgage interest
Property taxes
Homeowners or renters insurance
Utilities, like your electricity, water, and gas
WiFi
And even home repairs and renovations
Yes, you can writeoff a significant portion of these expenses with the homeoffice deduction.
But sadly millions of taxpayers are leaving money on the table every year because they fail to take this deduction, or they get it completely wrong.
And if you’re trusting your accountant to do this correctly then I’ve got news for you a lot of accountants do not fully understand this deduction.
Most of the time, they are either:
Not taking the deduction at all
Not taking the maximum deduction that they can take
There is so much misinformation about this tax deduction.
Some people even believe this deduction is illegal, but it's quite literally in the tax code.
And some use the deduction, but miss so many eligible expenses that they still end up paying more taxes than they have to.
And everyone else? Well.. they probably don’t even know this exists.
Which is unfortunate because this is a tax strategy that doesn’t cost you any money out of your pocket.
You can take something YOU ALREADY PAY for, and write it off from your taxes if you fully understand this concept.
So look, today I am going to give you the simplest and easiest to understand breakdown of the home office deduction and how you can use it to save thousands