Tax Prep Checklist Tax Write Off Book
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HOME-BASED BUSINESS TAX SAVINGS CALCULATOR

 

Estimate Your Tax Write-Off Savings

Enter your estimated home-based business related expenses and see how they could affect your income tax. 

Enter Your Business-Related Expenses

This calculator covers six common home-business expense categories: business use of home expenses, vehicle expenses, travel and education, meals and entertainment, general office expenses, and marketing and advertising.

Follow the instructions to enter either monthly or annual expenses and your home and vehicle business-use percentages.

Expense estimates and calculation settings

Enter your total monthly home expenses. The calculator will use the business-use percentage you enter next.

Enter the percentage of your home's space used for business.

What expenses can I include? Home Expenses

Include expenses such as rent or mortgage interest, utilities (heat, electricity, water), property taxes, home insurance, and routine repairs or maintenance.

Do not include mortgage principal payments or major home improvements.

Enter your total monthly vehicle expenses, including personal and business use.

Enter the percentage of your total driving that was for business.

What expenses can I include? Vehicle Expenses

Include expenses such as fuel, insurance, repairs, maintenance, registration fees, and eligible lease costs or loan interest.

Do not include the vehicle purchase price or loan principal payments.

Enter your total annual business-related travel, training, and education expenses.

What expenses can I include? Travel, Training, and Education

Include business related expenses such as airfare, hotels, business conventions, conferences, books, and courses.

Enter your total monthly business-related meals and eligible entertainment expenses.

What expenses can I include? Meals and Entertainment

Include eligible business meals, such as meals with clients, customers, or business associates, and meals while traveling for business.

Enter your total monthly business-related office expenses.

What expenses can I include? General Office Expenses

Include business-related expenses such as office supplies, software, telephone and internet costs, printer supplies, paper, pens, cleaning supplies, and postage.

Enter your total monthly business-related marketing and advertising expenses.

What expenses can I include? Marketing and Advertising

Include business-related expenses such as online advertising, business cards, flyers, brochures, promotional materials, and other marketing costs.

The tax rate is set at 22% to get you started. You can change the percentage to see how a different rate affects your estimated tax savings.