So I finally bought a home and have a set office area. My question is once tax time comes and it's time to write off that area as a business expense I simply take the percentage of square feet used as a working area as opposed to the rest of the house and write that much of my mortgage/utilities off correct? (i.e. Using 20% of square footage for office, so I write 20% of my mortgage/utilities off?)
Also are there any specific forms that I need to fill out to have it qualify as a tax write off, or is it merely the same as another business expense?
Also are there any specific forms that I need to fill out to have it qualify as a tax write off, or is it merely the same as another business expense?
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