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Home business tax question?

Question: Home business tax question?

(Posted by: jess on 2008-01-21 10:19:53)

Say i have a huge bedroom, and i use part of it for an office can i be able to use it as an tax deduction? i know the irs says it has to be strickly business but that portion of the room is excet it doesn’t have a wall seperating the two. so im not sure if i can deduct anything for my home office because its in my bedroom. so i hope someone can answer this for me cause im a little confused about it.


Posted by: Judy on 2008-01-21, 10:33:21

As long as the space is separate and not used for any other purpose (you don’t use the desk for writing out your personal bills, for example) you could take a home office deduction. If an IRS auditor wants to come out and see it, I’d buy some sort of screen and partition it off before he or she comes out. Be aware that home office expenses often trigger audits, especially if the amount deducted is high compared to the business income.


Posted by: ToYsTeMpTer on 2008-01-21, 10:22:38

Yes.. you can write off the sq footage of the space you use


Posted by: Craig T on 2008-01-21, 10:55:14

In my experience, home office deduction is usually more hassle and trouble than it is worth. The IRS can be very difficult with this deduction.


Posted by: Chantel on 2008-01-21, 11:35:18

Yes, but this often puts you at a higher % risk of being audited. You can also deduct electricity, ultility, phone, etc that you used for your home business.


Posted by: Robin S on 2008-01-21, 12:17:37

You can deduct just the space used for the office–all other deductions are based on the % that space takes up out of the entire home…..


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