Is Your Home Office Tax Deductible?You can deduct certain expenses if your home office is the principal place where your trade or business is conducted or where you meet and deal with clients or patients in the course of your business. Your home office will qualify as your principal place of business if you use it exclusively and regularly for the administrative or management activ- ities associated with your trade or business. There must be no other fixed place where you conduct substantial administrative or management activities.Generally, the amount you can deduct depends on the percentage of your home used for business. Your deduction will be limited if your gross income from your business is less than your total business expenses. Here are some basic facts to consider if you work at home:
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5 Tips on Understanding Home-Office Deductions
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