Question

home business

Forum|Forum|1 year ago
February 17, 2025
1 reply
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Does the 2024 tax rules allow for home business deductions such as partial utilities, phone for business, based on percentages of the area and amount billed/used?

Not A Product Question

V

Vanessa A

Yes. If you have a home business and you use a part of your home as a home office regularly and exclusively, then the utilities such as heat, electric and water associated with that portion of the house are deductible for the home office. You can also allocate home owners insurance and certain other whole home expenses based on the percentage of use.

You can allocate the phone for business based on the percent of usage for business vs personal.

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