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Is A Home Office Deduction Worth It For Me?
Posted By Jim On 11/17/2006 @ 10:39 am In Business | 7 Comments
I was reading an article in the WSJ’s Startup Journal about whether or not claiming a home office deduction was worth it, on a case by case basis, and what calculations you’d need to do in order to figure that out. Essentially the trade off is whether the extra time required to document a home office really makes the payoff worthwhile.
Here are essentially my costs for the year (given my home office is ~10%):
I also have the depreciation aspect of the room but in looking at it all, it doesn’t seem worth it for me to go through all that effort and risk the chances of an audit. Most of my expenses have nothing to do with my home and so I can claim them anyway (internet, computer costs, domains, hosting, etc.)
Source: Startup Journal 
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 Startup Journal: http://www.startupjournal.com/columnists/smalltalk/20061115-smalltalk.html
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