Tax associate Jennifer Benda commented on IRS home office expenses and how they can be itemized on tax returns in a story in the Denver Business Journal on July 8, 2011.
Home-based business owners cannot, in fact, “write off” all their home expenses on their tax returns. Home-office expenses should be itemized on tax returns according to specific IRS regulations, the main requirement stating that the home office be a dedicated space in someone’s home that is “regularly and exclusively” used for the business.
“That means it can’t be a guest room or a workout room, and you can’t have another office outside your home available to you in the case of someone working from home for an employer,” said Benda.