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I had two great questions this week that I wanted to address in this post:
1. Kyle asks, “Can I claim a home office deduction for an apartment that I rent?”
Answer: Great question. The answer is YES! To the extent that your home/apartment qualifies as a home office, you can deduct that portion of the square footage of the rent, utilities, maid service etc. Thus, if 25% of your apartment qualifies as a home office, you can deduct 25% of these items. Get my book, “Lower Your Taxes:Big Time” for a full discussion about the home office rules.
Question 2: ” Jennifer asks,” Can I deduct clothing and dry cleaning worn everyday for my business without being on business travel?”
Answer: Normal clothing isn’t deducitible unless it qualifies as a uniform or costume. Thus, a doctor’s smock would be deductible since it is only worn in a medical office or hospital. Likewise. If you place a stiched on logo showing your firm name on the outside of an item, that items would be deductible when purchased and so would the drycleaning of that time. Clip ons don’t work since you can remove them.