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If am self-employed, can I deduct my home office expenses?


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Do I need to file a tax return - TaxAct Q&A Series

Work from home

If you are self-employed and use a separate area in your home for your business, you may take a home office deduction on your tax return. Your deduction should include direct business expenses, such as cleaning and maintenance of your office, and a portion of your main home expenses, like utilities and property taxes.

To make tracking the expenses of your home office easy, you can elect to use the Simplified Method. Under this method, you can deduct $5 for every square foot of your home office (up to a maximum of 300 square feet).

Additionally, if you use the Simplified Method, allowable itemized home deductions should only be entered on Schedule A (e.g., real estate taxes, home mortgage interest).

Unfortunately, if you have a full-time job and get a W-2 you most likely can’t write off home office expenses. 

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