Home Office: Tips

If you are a small business owner:

Deduction can be taken by homeowners & Renters.
You may deduct mortgage interest, insurance, utilities, repairs, maintenance, depreciation rent.
The part of the home must be exclusively used for home office.
The home should be the principal place of business.

As for 2021 filing year, IRS does not allow employees working from home to take the home office deduction.

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