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Do you claim a home-office deduction?
Does your home have a garage? (attached or detached)
If you do, you need an important tool.
A tape measure.
Why? Because the amount the IRS lets you deduct from your tax bill depends on the size of your office, usually measured in square feet.
But what about your garage?
Should you include your garage-space measurements in the calculation of your business-use percentage?
What’s the answer to this question?
[Important: The two statements below are generalizations that only scratch the surface of the subject.]
- When you claim a deduction for an office in your home, that includes business-use of your garage, there’s no question… The garage space should be part of your calculation.
- If the garage is not part of your calculation, you might take the IRS’s position that the garage is not usable office space and therefore can’t be part of your space calculation.
The bottom line? You need to read my new article. It explains everything in crystal-clear language that will help you get the maximum deduction you’re entitled to.
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