What are the common expenses that may be tax deductible?
When you run a business based out of your house, taxes can actually become an advantage for you. The space used for the business becomes a new tax deduction. That includes the heat, water, and insurance associated with that space. The vehicle you use for business, the gas and repairs become a deduction. Every dollar you spend that’s tied to your business becomes a deduction. Including office supplies, utilities, business and trade magazine subscriptions, interest paid on loans associated with your business and the list goes on.
