EmployerTakesOutYour - SS&Medicare Posted: Oct 18th, 2015 - 6:01 pm In Reply to: Statutory you can take expenses off your taxes - like an IC
But you are responsible for your state and federal taxes at the end of the year. You measure the size of your home office in comparison to the rest of your home. It it comes out to 25%, then you can deduct 25% of your home office expenses including utilities, heat, taxes, office supplies and other equipment. I've heard many make out well but it is a lot of bookkeeping.
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