<prompt> Human: So Ive recently purchased a house, and while Im happy building equity, Id like to makesave more moneyI put an old blanket over my water heater to save money, and use CFL bulbs, but thats the extent of my house-savvythere are tax benefits for owning a home, right? How do I take the most advantage of them?Can I claim part of my Internetelectricgas bill as a work expense I work from home on weekends, and eveningsI have a 3 car garage, can I rent one of the garages out as storage? What considerations do i have to make before doing that?Any other tipsideas?  <response>: I would remove that old blanket, that doesnt sound safe or effective. They make special foil-backed insulation jackets for water heaters but most newer water heaters are already well insulated. Not where Id start to save money.What state are you in? Energy saving advice depends on your climate.One of the good things the Obama administration has brought us is the simplified home office deduction. Its based solely on the square feet youve dedicated to a home office, with a tax credit of 5 ft2. Its slightly less than you might get from the full home office deduction, but its much less likely to get you audited. 