Over the past few years, the IRS has made it easier for home-based business owners to deduct the business use of their homes.
Keep in mind the following when thinking about deducting business use of your home:
To qualify to claim expenses for the business use of your home, you must meet the following tests.

1.Your use of the business part of your home must be:
a.Exclusive (however, there are exceptions to exclusive use),
b.Regular,
c.For your business, AND

2.The business part of your home must be one of the following:
a.Your principal place of business,
b.A place where you meet or deal with patients, clients, or customers in the normal course of your business, or
c.A separate structure (not attached to your home) you use in connection with your business.

For full details on what you can deduct and how to deduct it, see IRS Publication 587-Business Use of Your Home.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Ask a Question

Not finding the advice and tips you need on this Small Businesses Tip Site? Request a Tip Now!

Guru Spotlight

George Sayour

Ever wonder how you could make your life better and more fun? So have tens of millions of fans who have turned to LifeTips for answers over the past decade. We keep the tips, advice, books, podcasts and writing services flowing, so you can keep your life and business growing in the right direction. Upward!