Ask Maxi · Deductions
Can I deduct my home office?
Yes, if you are self-employed and a specific area of your home is used regularly and only for business. A desk in the corner of a guest room that guests still use does not qualify. A converted bedroom you work in every day does.
There are two ways to take it. The simplified method is $5 per square foot up to 300 square feet, so $1,500 at most, and almost no paperwork. The regular method takes the business percentage of rent or mortgage interest, utilities, insurance, repairs and depreciation, which usually produces a bigger number and needs real records.
Employees working from home for a company generally cannot take it at all, even if the company does not provide an office.
Keep a sketch of the space with measurements and a couple of photos. That one page answers most of what anyone would ask later.
When we prepare a return we run both methods and use whichever one is better for you.
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