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Home Office Deduction

Home Office Deduction

JEAN: This is Jean Wetzler. I’m talking with Phyllis Grimes about deducting home office expenses. Phyllis, more and more small business owners are running businesses out of their homes. What is, and is not, deductible? PHYLLIS: Generally, you may not deduct expenses related to the rent, purchase, maintenance and repair of a personal residence. However, …