Can I deduct expenses as self employed if I earn $ 14,000 for 179 hrs of work a year as self-employed, I used my home office. How should I count my expenses?

Thank you for choosing Turbotax,

Yes, you can deduct home office expenses from your self-employed income.

If you rent an office, you can deduct the rent and any ancillary expenses for that space.

If you have a home office you can deduct its cost.

To determine your home office expenses, calculate the size of your home office as a percentage of your home’s total size. For example, if your home office is 20 square meters and your home is 200 square meters, your office is 10% of your home, which means you are able to deduct 10% of your mortgage interest or rent, utilities, home insurance, security monitoring fees, repairs and other related costs on your self-employment income tax return (T2125).

Please visit our TurboTax article on Tax Deductions for the Self-Employed to learn more about tax deductions for the self-employed.