Q:

Can I write off rent on my taxes?

A:

According to the IRS, a taxpayer can write off a portion of his rent if he uses part of his home for business. This area must be designated solely for business and must be the main place of business for the taxpayer's company.

Other parts of a home that qualify for deductions include any area used exclusively to meet with clients or any separate, non-attached structure used for business, such as a workshop. According to Intuit, to calculate the amount a taxpayer can deduct, he needs to measure the square footage of the area used exclusively for business and divide it by the total square footage of the home. This is the percentage of monthly rent that qualifies as a business deduction.


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