Discussion:Principal place of Business
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Discussion Forum Index --> Tax Questions --> Principal place of Business
| 8 January 2007 | |
| An S-corp. sole shareholder wants to deduct proportional share of R/E taxes and homeowners isurance becuase he has an office at home and large amount of inventory in his garage. Can he do that even though his home is not his principal place of business?
Thanks. | |
Death&Taxes (talk|edits) said: | 9 January 2007 |
| Reimburse from S Corp under accountable plan, right JR? | |
Michaelstar (talk|edits) said: | 9 January 2007 |
| Is the room that he uses as his office in the home exclusively used as an office or is it dual use - business & personal use?
| |
| 9 January 2007 | |
| Michael, the room is used exclusively as the office although he has a separate building as his company. Also, how do we handle the garage that is used for parking his cars as well as storing some of his inventory as he has run out of room at his work palce? Thanks. | |
Death&Taxes (talk|edits) said: | 10 January 2007 |
| JR? | |
| 10 January 2007 | |
| Regarding the garage, storing inventory does not require "exclusivity." The portion for inventory can be deducted. | |
| January 10, 2007 | |
| Solomon covered for me. Just what I was going to say. And yes, reimbursements by the corp. | |
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