A reminder to filers with home offices

You have a simpler write-off option for 2013. You can avoid allocating actual costs and figuring depreciation on Form 8829 and instead can deduct $5 per square foot of space used exclusively for business, up to 300 square feet. Thus, the maximum write-off allowed under this rule is $1,500, even if you run more than one business from home and use more than 300 square feet. Itemizers using this simplified method can claim all of their allowable mortgage interest and real estate taxes on Schedule A, even for the portion attributable to business use.