Money Girl Home Office Tax Deduction: 5 Essential Rules to Maximize Your Savings in 2025
Feb 12, 2025
Discover the ins and outs of the home office tax deduction, including who qualifies for it. Learn five essential rules for maximizing savings, whether you’re self-employed or a W-2 employee. Explore the differences between direct and indirect expenses and what can be deducted. Plus, find valuable resources that can help you make the most of your home office setup. Tune in for expert tips to navigate the tax landscape and ensure you’re getting the financial benefits you're entitled to!
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Home Office Deduction Eligibility
- Claim the home office deduction if you have self-employment income and a primary office at home.
- This applies even if you primarily work outside the home, like tradespeople or gig workers.
Dedicated Office Space
- Dedicate a specific space in your home exclusively for business use to qualify for the deduction.
- This could be a room, a detached garage, or even a defined area in a studio apartment.
Direct Expense Deductions
- Deduct direct office expenses, like new carpet, paint, desks, or repairs, for your home office.
- These are 100% deductible, regardless of the size of your office space.
