I qualify for a home office. Is the simplified method just lower paperwork, or does it change the economics too?
I am self-employed and use a dedicated room in my apartment for my U.S. LLC. I qualify for the home office deduction, but I cannot tell whether the simplified method is just a convenience option or whether it actually changes what deductions I am giving up. The room is about 180 square feet and I have meaningful utilities and rent, but I do not want to over-engineer the return if the tax difference is small.
My bigger concern is depreciation and future flexibility. If using the simplified method means I lose home depreciation for that year and cannot change my mind later, I want to understand that before I lock the return.
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