The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Telecommuting Deductions||Date: 7/26/1999 9:33 AM|
|Author: PJGeorge||Number: 17663 of 122466|
I have been working at home (telecommuting, but I work for GTE) for the last year and a half and I am considering revising my 1998 tax return to deduct the use of my home for work. I will also do this for 1999 but I will only be working at home from Jan - Aug. I am changing jobs at the end of Aug.
My question is: What can I safely deduct?
My home office is 90 sq ft, which represents 6.6% percent of my home. I can confidently say that this office area is only used for work purposes.
This is the list of deductions I think I can deduct, please add or subtract from this list: (PS> These are things I pay for myself)
6.6% of my mortgage (priciple only since the interest is already deducted)
6.6% of my utility bills (Gas, Electric, Water??)
6.6% of my Home Insurance??
Anything else? Any help would be greatly appreciated.
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