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Taxes

Federal Taxes

Can I deduct my home office, if I am self-employed?

If you use part of your home exclusively and regularly, for the sole purpose of conducting your business, you may be able to deduct expenses related to the use of that room from your taxes. Depending on what percentage of your house is actually being used for business purposes, you may deduct that same percentage of your bills such as mortgage interest, insurance, utilities, repairs, and depreciation of the house.