Small business answers — NOW!

Home office taxes

Question
What tax deductions relate to the home office? 
Answer
If you work from a home office that's used regularly and exclusively as an office, you likely qualify to deduct specific expenses related to work. Even teleworkers can deduct expenses related to their home offices, if teleworking is required by, or conducted at the behest of the employer, or for the employer's benefit.

If you don't qualify for or choose not to take home office deductions, you typically still can deduct expenses related to products or supplies.

Visit the IRS site and download Publication 587 on "Business Use of Your Home" for complete information. Use IRS Form 8829 to compute your deductible expenses for business use of the home.

Consult with a tax advisor before making any tax or legal decisions. 
Brain Trust contributor: Author of Safe @ Home and Teleworking and Telecommuting
© 2007, Small Business Network, Inc., All Rights Reserved.
Subject to the Terms of Use of AskJim.biz
Print this page   Bookmark this page   E-mail this page to a friend   Go back to previous page
AskJim ID: 485