The benefits of a home office

A home office provides a host of financial and other benefits

Having a home office is more and more common as more workers telecommute and work from home. If you are wondering whether a home office is right for you, you may want to consider some of the benefits of a home office.

Tax benefits
A home office does give you some tax benefits. You can deduct the business portion of the real estate taxes, mortgage interest, any rent, utilities, insurance, painting, repairs, and depreciation of your home office. There is a catch, however. According to the IRS, your home office has to be used exclusively and regularly for the business. That means if you are using the computer in the home office for work, but your kids are also using it for games or homework, it does not qualify for a deduction.  You need to talk to your tax advisor to find out exactly what you can and cannot deduct in relation to your home office.

Other benefits
Even without the tax benefits, there are several other benefits to a home office.

• It provides a place to focus on work. If you are trying to get work done on your laptop in the kitchen or in front of the TV, chances are you are distracted. A home office provides an area specific for work.
• It gives you some privacy. If you are working from home, your family knows not to disturb you if you are in the home office. That can help you to finish your work much more quickly if you can avoid distracting interruptions.
• It keeps work in its own place. If you are in your home office, it is work time. If you are not, it is family time. Having a home office allows you to keep work separate from your family and relaxation time.
• It helps with organization. All of your work related papers and documents have a specific place in the home office, instead of scattered around the house.
• It can be used for the home, too. You may not need a home office for your job, but you may want one to help manage the household. It is a great place to do bills, keep up with appointments, etc.

You can find a home office to be a great asset to your work life and family life. Not only can there be tax benefits to a home office, it can help you to keep work from encroaching on your family if you have a specific place for work when you are home.