It’s easy to be hazy about just when you can write off housing expenses if you’re self-employed. Here’s are three key rules you should know.
Meeting the “exclusive use” rule
Rule No. 1: “The part of your home used for business must be used exclusively for business.”
Meeting the “regular use” rule
Rule No. 2: “The part of your home used for business must be used on a regular basis for business.”
Meeting the “principal place of business” rule
Rule No. 3: “Your home office, studio or workshop must be your principal place of business.”
Source for Post: CNNMoney.com
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