It can be difficult for anyone to keep track of the costs of telephone conversations especially in this day and age of cell phones. Yet, those that receive calls at their home regarding business, especially if you have your home office there, can easily deduct these costs as business expenses at tax time. But, how will you keep track of it all?
One simple way to do this is to look over your phone bill when it arrives, circle any and all business calls on it, and then keep that bill. At the end of the year, use all 12 of the years bills to tally up the amounts. Then, apply this to your business deductions. You get 100 percent deduction on these business expenses. Keep it simply by storing all of your tax related records together throughout the year.
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