In article <8eb4b926-e696-4ce5-a2a9-2687e929fee1[at]d4g2000prg.googlegroups.com> ,
removeps-groups[at]yahoo.com <removeps-groups[at]yahoo.com> wrote:
- quote -


Your first business trip of the day is from your kitchen
to your home office. Last trip of the night from your
home office to your kitchen.


The rest of your work related mileage is business mileage.
--


ArtKamlet at a o l dot c o m Columbus OH K2PZH

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On Feb 15, 7:36 pm, kam...[at]panix.com (Arthur Kamlet) wrote:

- quote -

How can you convert commuting miles to business miles?

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In article <COWdnZxl6ciLDCnanZ2dnUVZ_tSknZ2d[at]comcast.com> ,
joetaxpayer <joetaxpayer[at]nospam.com> wrote:
- quote -


Almost all of my Sch C OIH clients do this to be able to deduct
mileage.


Employees invloved in outside sales etc also can benefit, but have
the 2% reduction.

A home office can convert nondeductible commuting miles into
deductible business miles. Someone who puts on thousands of
miles/year has a high incentive to set up a home office.
--


ArtKamlet at a o l dot c o m Columbus OH K2PZH

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"jtpryan" <jtpryan[at]gmail.com> wrote in message
news:5cec3840-f3c6-410d-90bd-88bff582c921[at]e30g2000hsa.googlegroups.com...
- quote -

You should have (expected the 1099-MISC). They had to issue it since the
amount exceeded $600.00.

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On Feb 14, 3:17 pm, "removeps-gro...[at]yahoo.com" <removeps-
gro...[at]yahoo.com> wrote:
- quote -

now that I did it threw all of this up. Maybe it's not worth it in
the long run.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

<removeps-groups[at]yahoo.com> wrote
- quote -



Well, you do, but not for the home office portion.




- quote -



If you plan to buy something else - and move your home office there - you
can do a Section 179 from office to office. Maybe not worth the hassle and
expense for most small offices.




--
Paul A. Thomas, CPA
Athens, Georgia

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Feb 14, 8:56*am, jtpryan <jtpr...[at]gmail.com> wrote:

- quote -

If you took depreciation for the home office, then you have to pay
business property capital gain taxes when you sell your house, and you
don't get the 250K/500K exclusion. If you make 200K profit selling
your house and the business portion of your home is 25%, the home
portion of 150K is free from taxes and 150<250, and the 50K business
portion is subject to usually 25% tax. On the upside, if you sell
your home at a loss, you don't get to deduct any capital loss on the
home portion, but on the business portion you have a capital loss that
you can combine with stocks.

As an aside, did you use Employee Business Expenses, or Schedule C?

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

jtpryan wrote:

- quote -

How much of that is from depreciation, which you'll get taxed on down
the road? Everyone has their threshold, but is the extra tracking and
forms worth it to you?

(side note, I have a client who tracked her medical expenses, pages of
them for 2007. After the 7.5% floor, it added $100 to her deductions,
and saved her $15. But how much time did she waste?)

You don't want to talk qualifications, but will that home office pass
audit? Nothing else in that room?

JOE

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I do some consulting on the side for one company for which I received
a 1099 for $7200. I also do a lot of side work for which I do not get
paid. But in any case I use my home office for this work. The
difference in my tax return by using the home office deductions is ~
$300 in my favor. Without getting into a whole discussion over
qualifications, let's assume it does qualify, is it worth it? I
understand there is something it affects if you sell the home and that
it might be a "red flag".

Thanks,
-Jim

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >