The Home Office Deduction

If you are a business owner or self-employed, and you use a part of your home exclusively and regularly as your principal place of business, or on a regular basis for inventory storage, you may be able to deduct some of your home expenses and reduce your tax bill. An employee that uses a part of his or her home for business may also qualify for a deduction if the above conditions apply and: a. The business use of the home is for the convenience of the employer. b. No part of the home is rented from the employee by the employer. If the business use of the home is merely appropriate or …

Join

Member-Only Resource! Login or Join to View.

Join