I am operating an e-commerce business from home. But I also regularly rent meeting space for conducting professional meetings that is not possible in my studio apartment. Can I claim it as business expense deduction on Schedule C or will this be a cause for audit? If I can, what should I enter it under?
Space that you pay rent to a thrid party for has absolutely nothing to do with a home office. In the Business Expenses -->> Other Common Business Expenses section. There is a sub-section in there clearly labeled "rental expenses".