No, you cannot deduct your monthly home mortgage payments. You can deduct the business portion of your mortgage interest. You can also depreciate the business portion of your home over 39 years. The business portion you can deduct is your… Read More ›
Ask Tom > Home Depreciation
If I stop doing child care for two years before selling my home, can I avoid paying taxes on my house depreciation?
No. You are referring to an old rule that expired years ago. Back then you could avoid paying taxes on the profit on the sale of your home if you were not in business for two out of the last… Read More ›