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#1
09-01-2003, 11:16 AM
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 Re: OK To Change Area Used In Home/Office? John H. Fisher wrote: - quote - > Robot <NOSPAMrobot[at]earthlink.net> writes:
NOT True.> > I built my home to use in my business, and have claimed 40% > > of the home to be used in my business for several years. > > > My business has required more space over the years, and I've > > started using my garage for storage and some construction in > > the business. > > > Details: > > Previously I've said my home was 2400 sq. ft. and that 960 > > sq. ft. was used in my business (about 40%). > > > Now, adding the area of the garage, the area would be 2800, > > but I'm also using more of my home in the business (in > > addition to adding the garage area). This makes total area > > 2800 sq. ft. and 1652 sq. ft. in business (about 59%). > > > Is there any problem making these changes in my home/office > > expense form, (areas above are approximate, but the usage > > claimed is factual). > There is no problem, as long as you understand that the use > of these areas must generally be "EXCLUSIVE USE". There > can be no dual usage of the designated area/s. He said STORAGE, and the storage usage need not be exclusive, but only be used as such on a "regular basis." (IRC 280A(c)(2)). The exclusive use requirement is only for those uses (e.g. home office, or meeting with clients) described in 280A(c)(1), which storage of inventory and supplies is excluded from. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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08-30-2003, 06:57 AM
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| Re: OK To Change Area Used In Home/Office? Robot <NOSPAMrobot[at]earthlink.net> writes: - quote - > I built my home to use in my business, and have claimed 40%
There is no problem, as long as you understand that the use> of the home to be used in my business for several years. > My business has required more space over the years, and I've > started using my garage for storage and some construction in > the business. > Details: > Previously I've said my home was 2400 sq. ft. and that 960 > sq. ft. was used in my business (about 40%). > Now, adding the area of the garage, the area would be 2800, > but I'm also using more of my home in the business (in > addition to adding the garage area). This makes total area > 2800 sq. ft. and 1652 sq. ft. in business (about 59%). > Is there any problem making these changes in my home/office > expense form, (areas above are approximate, but the usage > claimed is factual). of these areas must generally be "EXCLUSIVE USE". There can be no dual usage of the designated area/s. "Jack" - John H. Fisher - TaxService[at]aol.com Philadelphia, Pa - Atlantic City, NJ - West Wildwood, NJ My Newsgroups & Boards at: http://members.aol.com/TaxService/index.html Where Ignorance is bliss, 'tis folly to be wise!=  << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
08-29-2003, 05:03 AM
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| OK To Change Area Used In Home/Office? I built my home to use in my business, and have claimed 40% of the home to be used in my business for several years. My business has required more space over the years, and I've started using my garage for storage and some construction in the business. Details: Previously I've said my home was 2400 sq. ft. and that 960 sq. ft. was used in my business (about 40%). Now, adding the area of the garage, the area would be 2800, but I'm also using more of my home in the business (in addition to adding the garage area). This makes total area 2800 sq. ft. and 1652 sq. ft. in business (about 59%). Is there any problem making these changes in my home/office expense form, (areas above are approximate, but the usage claimed is factual). - Thanks << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| area, change, home or office |
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