Tax Expert Noel Spencer: S Corporation Office In Home Deduction

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  • 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
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