June 5, 2006

What IRS Requires for Your Home to Qualify as Your Principal Place of Business

There are complicated IRS rules that allow you to deduct expenses for the business use of your home. One rule allows you to deduct expenses if you use a portion of your home as a business office if you to meet the exclusive and the regular use tests. If your home does not meet the exclusive and regular use tests, another IRS rule may allow your home office to be your principal place of business. more…

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Originally Posted on 6/5/2006 11:29:26 AM
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October 30, 2008

GDI Video @ 12:17 pm:

In order for a home office to qualify for tax purposes, it is necessary to utilize a portion of your home “regularly and exclusively” as your primary business space, or “a place to meet or deal with your patients, clients or customers.” If you satisfy that threshold, you may be able to deduct at least a portion of various household expenses. In order to determine the “business percentage” of your expenses, divide the square footage of the room you are using for your business, by the total square footage of your house.

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