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Question
If you run a tow company from your home and have a garage and office. What expenses can you write off?
AI accountant’s answer:

Any ordinary and necessary business expenses. For the home office, it must generally be used 100% for business. Then you are able to deduct either $5 per square foot (up to 300 square feet) or a portion of your actual expenses to the home office.

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Answer

Any ordinary and necessary business expenses. For the home office, it must generally be used 100% for business. Then you are able to deduct either $5 per square foot (up to 300 square feet) or a portion of your actual expenses to the home office.

No answer given yet!

Melissa Pedigo, CPA

Melissa Pedigo has been a CPA for over 20 years and she is one of the only CPA copywriters in the world. With a vast knowledge of U.S. tax and accounting, she’s able to write about tax and finance topics from a unique perspective...as an industry expert. When she’s not writing or being an accounting nerd, you’ll find her watching and playing tennis, reading, tending to her half-grown garden, and studying foreign languages

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