According to an article in Forbes magazine, less than 10 percent of home-based business owners use the home of office deduction. The Internal Revenue Service has made it easier to claim the deduction by establishing a simplified option that reduces the number of calculations you must make. To make sure that you are using your home office deduction correctly, we have put together some useful information concerning eligibility requirements, what you can claim, and how to use the deduction.
Are You Deducting Your Home Office Space Correctly?
