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Home Office Deductions

2019 – 08/13 Taxpayers who use their homes for business may qualify to claim home office deductions on their tax returns. To determine if you’re eligible, here are several points to keep in mind. The home office deduction is available to both homeowners and renters. The home must be your principal place of business. Deductible expenses include mortgage interest, insurance, utilities, repairs, maintenance, depreciation and rent. Expenses for a separate structure, such as an unattached garage, don’t qualify for a home office deduction unless it’s used exclusively and regularly for business. You can’t claim a deduction if you’re an employee. Find more details from the IRS here: https://bit.ly/2MbhU3z

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