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Old 02-08-2011, 03:56 PM
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TomCopeland TomCopeland is offline
Business Author/Trainer
Join Date: Jun 2010
Location: St. Paul, Minnesota
Posts: 3,060
Default Mortgage

You should always claim the time-space % of your property tax, mortgage interest, depreciation on your home, and other house expenses. You can start deducting these items as soon as your business begins. You don't need to have to live in your home for 5 years to claim any house expenses. Once you do sell your home you will need to pay tax on the house depreciation you have been claiming since you started using your home for your business.

Join me on February 28th for my webinar "How to Reduce Your Taxes for 2010 and 2011. For more info:
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