What % of Rent, car, insurances, phones… can be claimed for a business?
I am an Independant Distributor, I work out of my apartment and travel for sales. I started in April of 2006. This is a new world for me and I am not sure how much I can claim.
Tags: business, claimed, insurances, phones..., Rent
Hi cupcake,
The percentage that can be written off is the percentage used for business. For example – mileage – you must keep a written log of the miles driven for work during the year. You can then deduct the number of miles driven for work, times the cost per mile the IRS allows. Or, you can figure what percentage of overall miles were work miles, and deduct that percentage of the overall cost of the vehicle that year (needs more documentation for that too).
Percentage of your rent is determined by what percentage of your apartment is TOTALLY used for work ONLY. It’s really not 1040 EZ kinds of stuff anymore…..