Wednesday, 20 November 2013 19:56

Simplified home office deduction

For 2013, small businesses have a new option when deducting home office expenses. They can use the old method, or the new simplified method, which promises less record keeping.  

The requirements which must be met before claiming a home office deduction haven't changed. The office space must still be used regularly and exclusively for business (with the usual exceptions to exclusive use for daycare and inventory space.)

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