This book covers the basics of: What you need to know about Federal Taxes and your new Home Business. Information on calculating and claiming the deduction for business activities in the home as well as business use of the home. Also covered are the requirements you must meet to qualify for a deduction, how to determine the business percentage of home use, the types of expenses you can and cannot deduct either in full or according to the percentage, how to determine the limits on deductions, and where to deduct the expenses on your income tax return.