Maximizing tax deductions on your home office (for your real estate business or other side hustle)

Summary

Lydia Patel discusses how to maximize home office tax deductions. Key points include eligibility requirements of exclusive use, regular use, and it being your business's principal place, methods of calculating the space, recordkeeping and what to include, and a warning to avoid doing it alone by consulting with a professional to know the nuances and to be aligned for the future.