Home Office: Don’t forget driving deduction
By Julian Block
Do you have a deductible home office? That could provide a business-driving deduction for otherwise nondeductible commuting costs between home and other work locations.
To qualify for the deduction, you must use a portion of your home exclusively and regularly for your business. Generally, this is a separate room. However, the IRS concedes it can be part of a room, as long as the division is clear and you establish that no personal activities take place within the business area.
Also, it has to be your principal place of business. That means the place where you (1) regularly meet clients or customers or (2) use it for your business’s key administrative or management activities, provided there is no other fixed location where you conduct substantial administrative or management functions for that business.