Tag: Home Office Deduction

How is the Home Office Deduction Calculated?

Self-Employed Brookline, NH Resident Has Questions

When claiming the home office deduction on your taxes you can use the simple or regular method for calculating your deduction.  To determine which is the best calculation, you will want to determine which of the two will offer you the larger deduction.  With the simplified method, you would complete a Simplified Method Worksheet, supplied by the IRS.  This will require you to indicate the square footage of your business space in the home among other factors to determine the deduction amount.  The regular deduction method uses Form 8829 and factors in mortgage interest, real estate taxes, insurance, and utilities to determine the deduction amount.

Continue reading


Get in Touch

(603) 429-2009

Call Us Today

Sign up for Our Newsletter

Subscribe for news and updates.

405 Daniel Webster Hwy
Merrimack, NH 03054
(603) 429-2009

Regular Hours

Sunday: Closed
Monday: 9AM-4PM
Tuesday: 9AM-4PM
Wednesday: 9AM-4PM
Thursday: 9AM-4PM
Friday: Closed
Saturday: Closed

Tax Season Hours (Feb 1 - Apr 15)

Sunday: Closed
Monday: 9AM-5PM
Tuesday: 9AM-5PM
Wednesday: 9AM-5PM
Thursday: 9AM-5PM
Friday: 9AM-4PM
Saturday: 9AM-2PM