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2. A Home Office These days, freelancing and working remotely are more than just a pipe dream for some Americans. Luckily, the IRS lets you deduct certain expenses related to your in-home business, including rent, utilities and repairs. Not every home office is eligible, though. Your home office must be your primary workspace, and the spot must not serve dual a purpose in your home; it can't also be a guest room. After deciding on eligibility, choose either the simplified or regular method to determine your deductions. Rather than painstakingly recording and calculating your expenditures, try simplifying things by using a standard deduction of $5 per square foot of home used for business (with a maximum of 300 square feet). 1. Home Equity Loans Similar to the mortgage interest breaks discussed earlier, homeowners can also receive a tax break on home equity loan interest.
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He accepted "lessons had been learned" over how Durban came to be awarded and then stripped of hosting rights. "It is imperative that we are nurturing good hosts," he added. "It is vital that Games are not just being done for the sake of being done, but also that they're the right fit. Affordability of Games is key, and more important is that they have that appeal to the community. We believe in the power of sport, we champion the power of sport and our Games are an important catalyst." Grevemberg insisted that the Commonwealth Games remains "relevant and resonant" to the whole Commonwealth, even though the UK or Australia has hosted four of the last five and now looks set to make that five out six editions between 2002 and 2022. "There is not a risk, but there is an awareness, that Australia and the UK have held the Games several times," Grevemberg added. "Our Youth Games have been on tour, from Samoa to the Bahamas, and that is by design, we are trying to get as many people to host these Games as possible but it's up to us to make them accessible and value for money." He said a decision on an alternative host would be taken as soon as possible. Meanwhile, Jamaican sprinting superstar Usain Bolt has been invited to Gold Coast 2018. Bolt, who won individual gold over 100 and 200 metres at each of the last three Olympic Games, will retire after the World Championships in London this summer. But Gold Coast are happy for him to come over in whatever capacity suits him.