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Home Office Tax Breaks

Ideas on how to put your business to work for you.

Working at home can grant you a break on your income taxes. Here are some of the items you may be able to deduct. (As always, consult with your accountant to make sure these apply to you.)

  • A percentage of your rent if you lease or rent, or of your home loan interest if you have a mortgage.
  • Cleaning costs for your home office, both labor and supplies
  • A portion of your real estate taxes and interest cost "above the line" (that is, before payroll taxes are calculated)
  • Some depreciation for the office part of your home
  • Utility costs and trash collection fees you can attribute to your home office
  • Maintenance and repair of your home office, including painting
  • Household furniture you converted or purchased for use in your home office.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need