How do you determine internet tax deductions for home business?
I have enough to itemize deductions, as opposed to taking the standard rate. The service is used for business and personal use. ON Schedule C, is this...
I have enough to itemize deductions, as opposed to taking the standard rate. The service is used for business and personal use.
ON Schedule C, is this an expense that can be listed?
Not sure what you’re asking. If you’re asking about deducting your internet service as a business expense, that’s not allowed. Like basic local phone service it’s presumed that you’d have internet access anyway so basic service isn’t deductible.
Now, if you had to use a premium business-class internet service (T-1, SDSL, VDSL, ect.) you could deduct the additional cost compared to consumer-class internet service, apportioned betweem the business and personal use.
Also, business expenses don’t go on Schedule A. They are not itemized deductions. Business expenses go on Schedule C along with the business income.