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Standard Deduction or Simplified Method? How to Write Off a Home Office
Did you know your home office can unlock BIGGER write-offs? Here’s how it works: • Traditional Method: Calculate % of your home used for business, then deduct that portion of utilities, property taxes, mortgage interest, etc. (complicated worksheets). • Simplified Method: Write off $5 per sq. ft. up to 300 sq. ft. = up to $1,500 deduction ...
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