Tax deductions

Discussion in 'Business Buzz' started by billmac, Jan 21, 2010.

  1. billmac

    billmac Member

    556
    Sep 8, 2008
    Does anyone claim part of their electrical bill as an income tax deduction? How does that work?
     
  2. toth boer goats

    toth boer goats Moderator Staff Member Supporting Member

    Jul 20, 2008
    Corning California
    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....
     

  3. ProctorHillFarm

    ProctorHillFarm New Member

    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!)