Can I deduct my house?

These costs are deductible, but you won't deduct them in the same way that you deduct many of your other business expenses.

If you've bought an item for your business that has a useful life of over 1 year (like your house and appliances), then you'll need to depreciate your home over its useful life.

In the case of smaller items like appliances, you can take what’s called the Section 179 deduction, which allows you to deduct the entire cost of the asset this year, as long as the asset is used for work over 50% of the time.

The depreciation (or deduction) method that you choose depends on both the type of asset and what would be most helpful for your business this year: would you rather be able to deduct the entire cost of the asset this year, or be able to deduct a portion of it for multiple years (and plan ahead for income taxes in future years)?

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