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Posted to rec.crafts.metalworking
Jon Anderson Jon Anderson is offline
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Default tax question: switching over from hobby to business?

Jon Elson wrote:

The
business in home deduction is an unbelievable bonus, I can't BELIEVE how
much that cuts my taxes! Totally beyond belief.


Indeed, this is no hyperbole! I live in a two story, the
whole downstairs is shop space. Now, I have the water
heater, washer and dryer, and a small amount of personal
stuff stored, so we rate 40% of my rent as a business
expense, and I get a similar cut of my PG&E bill taken off.


Jon