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Pave way for home repairs

by on
in Small Business Tax,Small Business Tax Deduction Strategies

If you maintain a home office for your small business, you may be eligible for tax deductions for repairing other parts of your home.

For example, suppose you regularly see clients at your home office. Your driveway is crumbling after winter storms, so you have it repaved at a cost of $5,000. If the home office comprises 10% of the overall area of your home, you can generally deduct $500 (10% of $5,000) of this indirect repair.

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