Yes, if you use part of your home exclusively and regularly for business purposes, you may qualify for the home office deduction.
This applies whether you own or rent your home. The space must be used as your principal place of business or a place where you regularly meet clients or customers.
You can calculate the deduction using either the simplified method—$5 per square foot up to 300 square feet—or the actual expense method, which involves allocating a portion of your home expenses such as rent, mortgage interest, utilities, and insurance.
Proper documentation is essential. Be prepared to provide measurements, photos, and proof of expenses in case of an audit. A tax professional can help determine which method provides the greatest benefit for your situation.
