How do I only include a % of rent based on office sq ftg
Destiny • Multi professional
If you have a regular and dedicated place at your home for your freelancing work then you can claim a portion of Rent, Utilities, House repairs and maintenance, Home insurance etc. as home office deduction. For example, if your work area is 200 sq ft and the house area is 2000 sq ft, then you’d be able to deduct up to 10% of the Rent, Utilities, House repairs and maintenance, home insurance etc. In the FlyFin app, mark all home-office related expenses as deductions and we will apply a % based on the area of your home office at the time of tax filing.
Dixon is one of the best tax experts from the United States. He has an experience of 28 years in the field of corporate finance. Before FlyFin, Dixon had served as the Tax Head at KPMG, NJ.