💰How to deduct your home expenses to save on taxes #tax #realestatetips #officededuction

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🏡 Real estate has some of the best tax saving benefits around.

🤔 But did you know that you can take an office deduction if you use a part of your home as a home office?

💻 Since many of you now work from home work you may be able to take this deduction as well!

📏 Just take the ratio of the office space relative to the rest of the livable sqft of your home and you can deduct a portion of the ordinary expenses of your home from your taxes such as the mortgage interest, utilities, and property taxes.

🛏 You shouldn't take this deduction if you use this space for other personal uses though (i.e. you shouldn't use it if your home office is also your bedroom).

💵 Every dollar you save on taxes is another dollar you can use to invest and grow your net worth!

👨🏻‍💼 Reach out to your CPA or favorite tax professional to see if it applies to you.

#taxdeductions #tax #realestatetips #moneyhacks #officededuction #realestate #taxes #moneytips