Working from home?
If you are a contract worker or small business owner, you may be able to deduct home office expenses on your tax return, even if you are a renter.
Tax law changes in 2018 prevent employees with exclusively W2 income from taking advantage of this deduction. But, if you have 1099 or Schedule C income, you may be able to claim a portion of your mortgage/rent, utilities, and other home expenses.
2022 IRS Mileage Rate = 58.5 cents
The IRS mileage deduction rate has increased from 56 cents to 58.5 cents per mile.
Lauren Gann, CPA
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