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Discussion in 'Business Buzz' started by billmac, Jan 21, 2010.
Does anyone claim part of their electrical bill as an income tax deduction? How does that work?
No actually I haven't.... not sure how you could break it down.... or if it can be used :scratch: :greengrin:
I would ask your tax preparer....
Well- the only way you can do that is if you have a home office- that is used ONLY as such0 than you can deduct the percentage of electricity to cover that room of your house
If you are running a business out of your farm- that is another story- like for me, I have a horse training /breeding business so I file a Schedule C, but I also have to file a schedule F for my farm, I do include my electricity for the farm on my schedule F
If you PM me I can talk to you in greater detail about it- Im actually on my way out the door to work (to do taxes- hah!)