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Home Office Deductions If you are self-employed (or considering becoming self-employed) and working out of an office in your home, there are strict rules that apply to deducting expenses related to a home office. If you are able to meet these requirements, the expenses related to your home office will qualify for the more favorable treatment as above-the-line business expenses.   Tax Aspects of Refinancing Your Home Mortgage Given all the turmoil in the residential lending market of late, it may be worth-while or even necessary to refinance your mortgage.   New Tax Legislation Includes Congress recently passed several tax bills, most notably the Tax Increase Prevention Act of 2007 (Tax Increase Prevention Act), which contained the so-called "AMT patch."