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Tax Deductions for Home Office


Apple, Amazon, Yankee Candle, and even Google all started with a home office. In the digital age, home offices are becoming more common and more feasTax Deductions for your home officeible. This allows business owners to keep operating costs low and have a flexible schedule.

Another benefit of a home office is tax deduction. Not every home office will qualify, but a lot will and usually businesses that have a home office will take any tax break it can get.

There are two main requirements the IRS has for the home office tax deduction.

  1. Regular and exclusive use– You must regularly use part of your home exclusively for conducting business.
  2. Principal place for business– You must show that you use your home as the main place of business. You’re still allowed to have a separate non-home office, but you need to prove that you use your home substantially and regularly to conduct business.

If you qualify for this deduction you might be able to write off expenses like.

  • Rent
  • Insurance
  • Utilities
  • Real estate taxes
  • Depreciation
  • Repairs
  • Mortgage interest
  • Improvements

This tax deduction isn’t just for homeowners. Renters can also qualify for a home office tax deduction. The IRA also allows for a wide range of housing categories to qualify. Homes, condo, apartments, garages, studios, and workshops all qualify.

Getting your business started is an exciting time, but it’s also a critical time and needs to be done right. Forming a business, drawing up contracts, and creating partnerships all need to be done with the trained eye of an attorney who specializes in business formation. At Baysinger, Henson, Reimer, & Cresswell we offer a wide range of business formation services.