Renting and IRS Deductions
When you have a business, you can deduct the home office expenses of your home for business use if you use the home for your business. When you are renting, you are getting less IRS deductions and less benefits of this home office deduction.
If you have a mortgage and interests then the deduction will be higher. For those who are renting, you can enter the rent payments for the home in column b of the tax form 8829.
You need to make sure that you qualify for deducting home office expenses first of course. Not everyone can deduct home office expenses but if you use it for the business primarily then you usually can.
