Tax Expert Noel Spencer: S Corporation Office In Home Deduction


Make text smaller Make text larger



Photos



  • Noel Spencer



My S Corp operates from my home. Is there a way to deduct an office in home when the corporation has no business location?


With no other business location, there is an obvious need for you to have an office in the home. The corporation can set up an accountable plan and reimburse the owner/employee out of pocket expenses. The S corporation claims a deduction for the expenses and the employee has no income to report. The corporation could also pay rent to the owner/employee*. Under this option the employee is not allowed to deduct expenses when they rent part of their dwelling unit to their employer.

Noel Spencer
735 Broadway, Newburgh, NY 12550
845-220-2080
Ask Noel Spencer a Question
www.spencersfinancial.com




Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

Crystal Run Healthcare employees donate 100 Thanksgiving baskets to needy families
MIDDLETOWN – This Thanksgiving holiday, employees of Crystal Run Healthcare brought joy and nourishment to families in need by donating a new record of over 100...
Read more »
Image

State Police at Monroe
Dec. 2
Two residents of Tuxedo Park, one 60 and the other 62, were charged with trespassing, a violation, and released on an appearance...

Read more »

How to make egg nog, safely
Homemade eggnog may be a holiday tradition, but it can also be a source of holiday illness if prepared with raw eggs. Even if the eggs are clean and the shells are unbroken,...
Read more »
Image

Peace is the greatest Christmas gift
To the Editor:
Just thought you folks may — or may not? — be interested in having the enclosed poem appear in your paper? I also...

Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers



MOST COMMENTED



Find more about Weather in Chester, NY