OneSource Wealth Management

We get asked this question a lot: “Can I deduct home office expenses as a self-employed business owner?”

As we always say, please consult your tax, legal, or accounting professional to confirm what’s appropriate for your situation.

Generally, the answer is like most things: It depends.

At a very high level, here are some guidelines we’ve learned when working with tax professionals:

👍 What typically qualifies
A specific area used exclusively and regularly for business, often as the principal place of business or a place to meet clients.

❓ What sometimes counts as an expense
A business shares costs such as rent or mortgage interest, utilities, insurance, and certain maintenance or repairs associated with the workspace.

👎 What usually does NOT qualify
A space that is also used personally, and expenses tied to parts of the home that are not part of the business use area.

Because the details matter, maintaining good records and having a quick conversation with a tax professional can help determine what applies and keep decisions aligned with the broader financial strategy.