There is often a lot of confusion surrounding an office in home and the mileage deduction and the difference between commuting and business miles. I have heard many accountants over the years selling the deductions like in an infomercial, claiming that by simply setting up an office in the home used exclusively for the business [...]
Posts Tagged ‘Office in home deduction’
Office In Home and Mileage Deductions
Posted in Partnerships and LLCs, S-Corporations, Sole Proprietorships/SMLLCs, Tax Planning, Tax Tips, tagged auto expenses, business miles, business use of vehicles, commuting miles, FreeMind software, home office, iPhone mileage app, IRS Pub 587, office in home, Office in home deduction, principle place of business on August 7, 2009 | 2 Comments »
Office in Home Depreciation
Posted in Individual Tax, Tax Planning, Tax Tips, tagged 1250 Recapture, 8829, Individual Tax, Office in home deduction, Schedule C, Tax Planning on August 2, 2008 | Leave a Comment »
When meeting with new clients that have sole proprietorships or single-member LLCs, I often find that their prior accountant or CPA had them take depreciation on the portion of their home used for an office in home. I am not necessarily against taking the deduction, but I do think it is not right for everyone [...]
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- Worker, Homeownership, and Business Assistance Act of 2009
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- Oregon Income Tax Increases – Sales Tax in Disguise?
- Single Member LLC Owner Liable for Unpaid Employer Payroll Tax
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