You
now have a choice in how you deduct the expense of a home office. Starting with
your 2013 tax return, you can either deduct the actual expenses connected with
your home office, or you can use the simplified method of deducting $5 per
square foot of the part of your home used for business, up to a maximum
deduction of $1,500.
Remember,
the deduction isn't available just because you do work at home; you must use
part of your home regularly and exclusively as your principal place of business
or where you meet customers, clients, or patients in the normal course of
business.
