Absolutely—I remember my first year working out of my home office after leaving Rocket Mortgage to run Speedy Sale Home Buyers. Claiming the home office deduction helped me save over $2,000 on my taxes, money I was able to reinvest into marketing materials and community outreach. My best advice: keep great records, measure your workspace carefully, and don’t be afraid to ask a tax pro if you’re unsure what qualifies—you might be surprised how much it adds up!
Most people are pretty good now at claiming the costs of running their business, but people do overlook 'use of home', especially since post Covid many people work at home. In the UK, HMRC allow a claim every year with no questions asked of £312 a year, which is better than nothing. However, if you work from home all the time or a decent amount, then you can make a much bigger claim. HMRC have a calculator and method you can use or follow, and it usually comes out with a much larger claim than the standard £312. Note - they can ask you to provide all the evidence for the calculation, so you need to be ready to show how you reached the figure you are claiming.