![]() Though it doesn’t need to be in a separate room, your office must be in a space solely designated to work and business operations.You can divide the office square footage by the total square footage of your home to find the percentage. Based on what percentage of your home you use for business. ![]() If you use a home office, you might be able to deduct the costs of creating and maintaining your workspace. Many small-business owners-especially contractors and freelancers-work from a home office. Vehicles used as equipment-such as dump trucks-and vehicles used for hire, like taxis and airport shuttle vans, do not qualify. If you use the vehicle for both business and personal purposes, you must split the costs based on mileage. ![]() If you want to deduct vehicle expenses, you’ll need to keep meticulous records.
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