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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?
Answer
Any reasonable and necessary business expenses. For the home office, it must generally be used 100% for business. Then you are able to deduct the either $5 per square foot (up to 300 square feet) or you can allocate actual expenses to the home office. For the garage, it will likely depend on whether it is used 100% for business or whether there is also personal use of the garage.

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Melissa Pedigo

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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