What % is your home office that you write off on your taxes if you are a 1099? I plan to do 30% because my office is my basement but will this be a red flag? So I will be taking 30% of all my home expenses as well. Thus far my expenses I plan to write off is around 28k, my husband says it’s a red flag but I think it pretty normal

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I do 50% of my home. And I can prove that I use 50% of my home for various parts of my revenue streams that come under my business.

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Makes sense to me!

Talk to a tax professional

likehelpful

My next step. Thanks!

I’m a realtor and the my max write off is $1500 for my home office. I write off 300 sqft. By $5 rate. Doesn’t include my office expenses…

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Yea I wouldn’t be doing that option. I would be doing the % of my home option

likefunny

Fair warning… our accountant always warns that at a certain point if you claim to much it affects like our deduction in your mortgage or how your house is valued. I forget, but tldr there is a threshold that starts to affect other things regarding taxes in your house.

Hmm. Okay. All I see is if you claim too much it reduces your qualifying income if we were to buy a home which we are not. But thank you for this. I’ll do more research and I’m sure our finance guy will mention it

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