The National Highway Traffic Safety Administration warns of the dangers of distracted drivers. Many cars also have TVs, and one carmaker is planning to bring Internet access to its vehicles. Remember, a business' liability is stretching far and wide as technology makes it possible for workers to be on the job 24 hours a day. If you run your business from home, you may be eligible to deduct expenses related to the portion of the home used for business. If you own your home, you can claim depreciation as part of your home-office deduction.
Depreciation is figured on the basis of the home, exclusive of land.
Depreciation is the basis of the business portion of the home multiplied by a percentage from an IRS table. This percentage varies with the month in which you first start to use your home for business. You may you may be overlooking an extra tax break if you mange a business out of your home. Let's use a security system as an example. If the security system covers both your office and the rest of the house, you can deduct the portion of the system's cost equal to the percentage of the home that your office represents.