Home Office Tax Tips

Home Office Tax Tips

If you have a home based business, eBay, or online business, one of your biggest tax deductions may be your home office.  Here are some tax tips to help you get the most out of your home office.

Qualifying for the home office tax deduction:

Your home office qualifies for the home office tax deduction if it is your principal place of business, and you use it regularly and exclusively for business.

To pass the ‘place of business’ test, your home office must be the principal place you conduct your business, or a place where you regularly meet with clients or customers, or it must be a separate structure not attached to your home.

Regular and exclusive use means that you spend at least 10-12 hours per week conducting business in your home office, and that you don’t use this room for other purposes.  For example, if you use part of the room as a laundry room or children’s play room you may not qualify for the home office deduction.

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