Maximize Your Savings with the Home Office Tax Deduction
January 19, 20251 min read
By the I&S Accounting teamReviewed by a licensed U.S. CPA
Do you work from home? You may qualify for the home office tax deduction, which lets you deduct a percentage of your home expenses if part of your home is used exclusively for business.
Expenses You Can Deduct
- Rent or mortgage interest
- Utilities (electricity, water, internet)
- Repairs and maintenance
How to Calculate
If your home office takes up 10% of your home's total square footage, you can generally deduct 10% of these costs (the simplified method uses a set rate per square foot instead).
Tip: keep detailed records of your expenses, including utility bills and property-related receipts. Good records reduce your tax liability and keep you audit-ready.
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