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

County Health Commissioner celebrates National Nutrition Month at Warwick ShopRite
— Orange County Health Commissioner Dr. Irina Gelman recognized National Nutrition Month with the team of registered dietitians from...
Read more »
Image

Griffith Olivero Realtors and Panarelli Realty to merge
GOSHEN – Griffith Olivero Realtors and Panarelli Realty, two leading independent real estate brokerages serving Orange County, New York and the Greater Hudson Valley,...
Read more »

State Police at Monroe
March 11
A 63-year-old Chester man was charged with unlawful possession of marijuana, a violation, and released on an appearance...

Read more »

Phyllis A. Esposito of Goshen, N.Y., dies at age 90
Phyllis A. Esposito, a loving mother, grandmother, and long-time resident of Goshen, N.Y., passed away on Friday, March 15, 2019, at the Glen Arden Heath Care Center. She was...
Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers



MOST COMMENTED



Find more about Weather in Chester, NY