# @jamie_boyack on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/C3V4XZ5yN_n
- **Gondola URL:** https://gondola.cc/posts/61723234-jamie-boyack-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/b0c3e66b55.jpg
- **Posted:** 2024-02-14T20:58:25.000+00:00
- **Account Owner:** Aloha Friday CPA | Accountant for Creative Entrepreneurs (@jamie_boyack) — https://gondola.cc/jamie_boyack

## Caption

📣REMEMBER!📣 
Home office deduction is worth it! 🏡
⬇️
If you designate a space within your residence exclusively for work purposes—a designated office room or even just a workstation nestled in a corner of your spare bedroom—you’re eligible to claim a portion of your home-related expenses as business deductions.
⬇️

You have two options for calculating this deduction.
1️⃣ Standard Method: (recommended) Determine the percentage of your home utilized for business activities and then apply this percentage to your total home expenses. Home expenses you can claim: rent or mortgage, utilities, insurance, internet, garbage, HOA dues, home security, general maintenance.

2️⃣ Alternatively, Simplified Method: you can opt for the simpler approach, multiply the square footage of your home utilized for business by $5 to ascertain your deduction amount (up to $1500).
 
The 🔑 is to maintain proper documentation and be ready to provide evidence if IRS/CRA requests it.

👚 desertdown_ranchwear 🧡👑
#taxdeductionsforentrepreneurs #alohafridaycpa #accountantforcreatives #taxseason #creativeentrepreneurs #photographybusinesstips #entrepreneurlife #smallbusinessowners #taxtips #dontforgettaxes

## Stats

- **Views:** 1,184
- **Likes:** 99
- **Shares:** 0
- **Comments:** 5

## Tags

taxseason, taxdeductionsforentrepreneurs, creativeentrepreneurs, accountantforcreatives, taxtips, smallbusinessowners, entrepreneurlife, dontforgettaxes, alohafridaycpa, photographybusinesstips

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