Form 8829 is used to claim the home office deduction by calculating the business-related portion of home expenses. Self-employed individuals and freelancers can deduct costs such as rent, utilities ...

You can deduct business expenses from your small business revenue to lower your tax bill in several ways. Business deductions can sometimes reduce your income on a dollar-for-dollar basis.

Overhead costs vary by industry. Common examples include the following: Overhead costs, alongside direct costs, the other main category of business expense, determine a company’s profitability.