Dan Lutchansky CPA
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“In America, there are two tax systems; one for the informed and one for the uninformed. Both systems are legal.”

Judge Learned Hand

Small Business Taxes and Accounting Pie Chart


Taxes pie chart



You can deduct business expenses that apply to a part of your home if that part is exclusively used on a regular basis for business purposes. Specifically, the home office must be:

  • • Your principal place of business,
  • •  A place of business used to meet with your patients, clients, or customers in the normal course    of business, or
  • •  A separate structure that is not attached to your home that is used in connection with your    trade or business.

These deductions can be significant and can include a portion of your property taxes, mortgage interest, rent, utilities, insurance, painting, repairs or depreciation. Generally, the amount you can deduct depends on the percentage of your home used for business.

There is an overall limit on the amount of home office deductions that may be taken. Any claimed deductions for home office expenses cannot exceed the net income (with certain adjustments) derived from the business use of your home.

Is the taking of home office expenses a red flag that will cause you to be audited by the IRS? It could be depending on the circumstances, but we encourage you to take full advantage of the tax law as long as you meet all of the requirements. Of course, we will discuss the issue with you.

Let’s get started with a complimentary tax consultation, where we will answer your questions, assess your situation and recommend a course of action. We can be reached at (408) 378-9500 or by completing the form at Contact Us.