The Two Core Tests
To deduct expenses for the business use of your home, you must generally meet two primary tests: The 'Use Test' and the 'Business Connection Test'. The either/or dilemma is often between complexity and clarity. Our Simple guide provides clarity.
The Use Test requires you to use a specific area of your home exclusively and regularly for your trade or business. The Business Connection Test requires your home office to be your principal place of business, a place to meet clients, or a separate structure. You must generally meet both primary tests to qualify.
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DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial advice. Always consult with a qualified financial professional before making financial decisions.