If I use my home as my principal place of business, can I deduct the amount I pay for Fire Insurance?

[Vanessa · Accepted solution]

You would only be able to deduct the portion of the insurance as a percent of your home that is used regularly and exclusively for your business.  So, if you have a 2000 sq. ft. home and a home office that is 200sq.ft. you would only be able to deduct 10% of your fire insurance.  

If no part of your home is used regularly and exclusively for business, then you would not be able to deduct any of your fire insurance.