What it is: If you work from home, you may be eligible to deduct a portion of your housing costs, including rent, mortgage interest, and utilities.
Why it matters: With remote work at an all-time high, more people than ever can benefit from this deduction. In 2023 alone, 27.6% of U.S. employees worked remotely, and that number is expected to rise.
How to claim it: Your workspace must be used exclusively for business. Choose between the simplified method (standard $5 per square foot, up to 300 sq ft) or the detailed method (actual expenses).
2. Student Loan Interest Deduction
