Created by a Tax Accountant, this home office tracker allows TPT Sellers to easily track the home office tax deduction using a Google Sheet. Before you download, make sure you qualify for this deduction:
1. Do you have a separately identifiable space you use for business?
2. Do you use that space exclusively for business?
3. Do you use that space regularly for business?
If you answered yes to ALL of the questions above, you qualify for this tax deduction and you should start tracking it!
This tracker was developed by Emily, our Tax Advisor, to help our clients better track their Home Office expenses and monitor their progress throughout the year to make for an easier tax season all around. We also like that it can be used year after year to help ensure you aren’t paying more in taxes than you have to! We included a video tutorial on how to use this tracker effectively to help get you started.
If you’ve watched our content on Instagram, you know Emily talks a lot about bookkeeping best practices and this is a tool you can use to follow her advice. Plus, if you’re an LLC you need this tracker to properly separate your personal expenses from your business to meet the legal requirements of being an LLC!
If you’re not an LLC, you should still download this and follow our bookkeeping best practices to make your bookkeeping so much easier and your tax prep a breeze!
This resource is also included in our Bookkeeping Guide, so you don’t need to buy it twice!