I work from home and its my only income. Have an office in my home. I use schedule C to deduct, correct?
How about private expenses? Have no mortgage as I paid the house in cash. Can I depreciate the expenses over 7 years or so?
Can I deduct also private home expenses as fixing my plumbing?
Just an example of what I mean:
When one works in an office outside his home, he has to use the bathroom and the kitchen sometimes, as nobody can avoid it. These costs (bathroom repair, kitchen, water, coffee) can be written off as business expenses.
When I work inside my home, conducting my business, I also have to go to the bathroom and sometimes brew myself a cup of Joe to not fall asleep while working. I should be able to write something off here to?
Final question: if I would have no office, can a home purchase bring tax relief? And if yes, which schedule should be used? Or can I deduct both kid of expenses: home purchase and repair and business expenses?
Thanks in advance for any advice that you can throw in my direction.