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| Seth wrote: - quote - > > Can I deduct also private home expenses as fixing my plumbing?
I read p587 to suggest otherwise. Insurance, utilities, and general> Is the plumbing in the office? repairs are deductible based on the percentage of the home used for business. (my thought) Fixing the shower, not deductible. General plumbing repair should be. Example of not deductible at all is Lawn care and painting any non-business room. The pub is pretty complete in its explanation. JOE |
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| In article <202d166b-e197-4159-b164-c3a2d0af2e3f[at]l1g2000hsa.googlegroups.com> , <Kerstin.Julio[at]gmail.com> wrote: - quote - > I work from home and its my only income. Have an office in my home. I
You can depreciate the office part of the structure over a lot more> use schedule C to deduct, correct? > How about private expenses? Have no mortgage as I paid the house in > cash. Can I depreciate the expenses over 7 years or so? than 7 years. - quote - > Can I deduct also private home expenses as fixing my plumbing?
Is the plumbing in the office?- quote - > When one works in an office outside his home, he has to use the
Coffee is a personal expense. A company providing it for employees is> bathroom and the kitchen sometimes, as nobody can avoid it. These > costs (bathroom repair, kitchen, water, coffee) can be written off as > business expenses. different. - quote - > When I work inside my home, conducting my business, I also have to go
The tax law isn't based on "should be".> to the bathroom and sometimes brew myself a cup of Joe to not fall > asleep while working. I should be able to write something off here to? - quote - > Final question: if I would have no office, can a home purchase bring
Real estate taxes are deductible. So is mortgage interest.> tax relief? Seth |
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| Kerstin.Julio[at]gmail.com wrote: - quote - > I work from home and its my only income. Have an office in my home. I
As with many areas of individual income tax, when there is high> use schedule C to deduct, correct? > How about private expenses? Have no mortgage as I paid the house in > cash. Can I depreciate the expenses over 7 years or so? > Can I deduct also private home expenses as fixing my plumbing? > Just an example of what I mean: > When one works in an office outside his home, he has to use the > bathroom and the kitchen sometimes, as nobody can avoid it. These > costs (bathroom repair, kitchen, water, coffee) can be written off as > business expenses. > When I work inside my home, conducting my business, I also have to go > to the bathroom and sometimes brew myself a cup of Joe to not fall > asleep while working. I should be able to write something off here to? potential for mingling personal non-deductible expenses with business expenses, extra rules and record-keeping requirements are in place to help prevent abuse. Your office-in-home is subject to those rules. If you maintain a separate, dedicated business location that you rent or own, then the situation is less susceptible to abuse and the rules more simple. -Mark Bole |
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| Kerstin.Julio[at]gmail.com wrote: - quote - > I work from home and its my only income. Have an office in my home. I
See Publication 587> use schedule C to deduct, correct? > How about private expenses? Have no mortgage as I paid the house in > cash. Can I depreciate the expenses over 7 years or so? > Can I deduct also private home expenses as fixing my plumbing? > Just an example of what I mean: > When one works in an office outside his home, he has to use the > bathroom and the kitchen sometimes, as nobody can avoid it. These > costs (bathroom repair, kitchen, water, coffee) can be written off as > business expenses. > When I work inside my home, conducting my business, I also have to go > to the bathroom and sometimes brew myself a cup of Joe to not fall > asleep while working. I should be able to write something off here to? > Final question: if I would have no office, can a home purchase bring > tax relief? And if yes, which schedule should be used? Or can I deduct > both kid of expenses: home purchase and repair and business expenses? > Thanks in advance for any advice that you can throw in my direction. http://www.irs.gov/pub/irs-pdf/p587.pdf for complete home office details. If not used for a home office, the property tax and mortgage interest are schedule A (itemized deductions). JOE |
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| I work from home and its my only income. Have an office in my home. I use schedule C to deduct, correct? How about private expenses? Have no mortgage as I paid the house in cash. Can I depreciate the expenses over 7 years or so? Can I deduct also private home expenses as fixing my plumbing? Just an example of what I mean: When one works in an office outside his home, he has to use the bathroom and the kitchen sometimes, as nobody can avoid it. These costs (bathroom repair, kitchen, water, coffee) can be written off as business expenses. When I work inside my home, conducting my business, I also have to go to the bathroom and sometimes brew myself a cup of Joe to not fall asleep while working. I should be able to write something off here to? Final question: if I would have no office, can a home purchase bring tax relief? And if yes, which schedule should be used? Or can I deduct both kid of expenses: home purchase and repair and business expenses? Thanks in advance for any advice that you can throw in my direction. |
| Tags |
| business, deduct, homeoffice, person, privateperson, purchase |
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