Deducting Business Use of Your Home Doesn’t Have to be Complicated

Deducting Business Use of Your Home Doesn’t Have to be Complicated

With the proliferation of telecommuting, home offices are now so common that claiming it on your taxes is no longer complicated and subject to IRS scrutiny.  Under the “safe harbor” option you can deduct, based on square footage of your home office,  $5  per square foot (up to a maximum of $1,500). The space must be your principal place of business and used exclusively for business purposes. Sorry, the guest room where your mother-in-law stays and where you happen to have a desk you use to work remotely every other Friday, doesn’t qualify.