The IRS simplified method lets you deduct $5 per square foot of home office space, up to 300 sq ft ($1,500 max). It's easier than tracking actual expenses but may give a smaller deduction if your home costs are high.
Deduct the business-use percentage of your actual home costs (rent/mortgage interest, utilities, insurance, repairs). This often yields a bigger deduction but requires more recordkeeping.
This is a simplified estimate for planning purposes, not tax advice. Confirm eligibility (a space used regularly and exclusively for business) and exact figures with a tax professional or the current IRS Form 8829 instructions.