Do you use more than 25% of your home for business use? If you are entering a percentage of home business use on Line A4, “Business Use of Dwelling,” on Form HS-122, Homestead Declaration, be sure it matches the percentage of business use you are claiming on Line 7, “Business Percentage,” on federal Form 8829, Expenses for Business Use of Your Home. These two forms should show the same percentage numbers, unless it is a bed and breakfast. For more information visit the VT Dept of Taxes website or call our office in Williston (802.878.1963) or Rutland (802.775.7132).
Davis & Hodgdon Associates CPAs has been assisting individuals and business owners with tax consulting and strategizing for more than 25 years.