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What are different types of home business deductions?

April 26, 2017deductions different home business home office small business tax deductions taxes types

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What are different types of home business deductions?

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Having a home-based business can work to your advantage when tax time rolls around. Running a business out of your home not only gives you the freedom to work from home, but it also creates home business deductions on your tax return. When filing your taxes, it is best to always be honest and reasonable when figuring out your deductions. Calculating too much or listing things not relevant to the business can be a red flag to the Internal Revenue Service (IRS), resulting in a tax audit.