Home Office Expense- Have you moved during this year?

Home Office Expense- Have you moved during this year? If so, recalculate your home office and net home square footage. And remember hallways, entry ways, stairways and bathroom are common areas and not include in the home square footage. You are also able to deduct a second telephone line that you but in for your business, as well as a portion of the electric, gas, home owners insurance, home owners association fees, trash pickup, and your alarm system fees. Depending on what type of business you are running out of your home and what your tax status looks like you can even deduct a percentage of your mortgage interest and real estate taxes.

Other assets that you purchase for your home office are also either expenses or can be depreciated over the average life of the item.