Personal Finance

Home expense rate small business

  • Last Updated:
  • Feb 2nd, 2022 7:27 am
[OP]
Sr. Member
Jul 2, 2013
792 posts
216 upvotes
Aurora

Home expense rate small business

I currently write off 5% of my home expenses like repairs and utilities for my small business due to one room in the house being my office. My garage is currently full of material and tool to operate the business and I think I should be able to write off more of a percentage because of this.
This is a 3 bedroom house that is about 1500 square feet so one room and garage are used completely for business. Is there a calculation to determine percentage for write off?
1 reply
Deal Addict
Mar 10, 2010
1509 posts
502 upvotes
Unfortunately only finished areas are counted in sq ft calculations (ie. no garages/unfinished basements). See here.

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