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

More From The Ask The Expert

  • College Admissions Expert Elizabeth Levine: Marketing Materials from Colleges
  • Firearms Safety Expert Jimmy Cosenza: Ammunition
  • Tax Expert Noel Spencer: Diapers Medical Deduction
  • College Admissions Expert Elizabeth Levine: Participating in College Level Sports
  • Tax Expert Noel Spencer: Health Insurance Deduction Pre-Tax Dollars
  • Tax Expert Noel Spencer: S Corporation Office In Home Deduction
  • College Admissions Expert Elizabeth Levine: Visiting Colleges
  • Quickbooks Expert Rochelle Dejong: Outsourcing your Accounting
  • College Admissions Expert Elizabeth Levine: Getting a Jump on the College Search
  • Quickbooks Expert Rochelle Dejong: Benefits
  • College Admissions Expert Elizabeth Levine: College Essay Writing
  • Quickbooks Expert Rochelle Dejong: Working in Office
  • College Admissions Expert Elizabeth Levine: Net Price Calculator
  • Quickbooks Expert Rochelle Dejong: Software
  • College Admissions Expert Elizabeth Levine: Evaluation in the College Admission Process
  • Quickbooks Expert Rochelle Dejong: Outsourcing
  • College Admissions Expert Elizabeth Levine: Demonstrated Interest
  • Quickbooks Expert Rochelle Dejong: Income Tax Preparation
  • College Admissions Expert Elizabeth Levine: Tax Returns and Financial Aid
  • Quickbooks Expert Rochelle Dejong: Outsourcing your Accounting
  • College Admissions Expert Elizabeth Levine: Paying Back Student Loan Debt
  • College Admissions Expert Elizabeth Levine: FAFSA Mistakes
  • College Admissions Expert Elizabeth Levine: FAFSA
  • College Admissions Expert Elizabeth Levine: ACT vs. SAT
  • College Admissions Expert Elizabeth Levine: SAT Scores vs. ACT Scores
  • College Admissions Expert Elizabeth Levine: Preparing for College Visits
  • College Admissions Expert Elizabeth Levine: Best Paying Careers
  • College Admissions Expert Elizabeth Levine: Saving for Your Child's Education
  • College Admissions Expert Elizabeth Levine: Financial Aid Deadlines
  • College Admissions Expert Elizabeth Levine: Preparing to Apply to Colleges
  • Comments

    Pool Rules



    MUST READ NEWS

    Interactive map remembers loved ones lost to opioids
    The National Safety Council has launched an interactive memorial, Celebrating Lost Loved Ones, to honor those who have lost their lives to opioids.
    This mapping technology...

    Read more »
    Image

    Sharing the CARES Day plan now in order to the necessary funds
    CENTRAL VALLEY — Organizers hope the Monroe-Woodbury High School's CARES Day is an inspiring, empowering, life-changing event for all...
    Read more »
    Image

    M-W High School announces plan for first ever M-W CARES Day
    By Nancy Kriz
    — In what’s possibly being considered the first-of-its-kind student conference day in a New York...

    Read more »
    Image

    St. Luke’s Cornwall Hospital joins Montefiore Health System
    — The New York State Health Commissioner has approved the partnership between Montefiore Health...
    Read more »

    VIDEOS



    * indicates required
    Community Newspapers


    MOST COMMENTED



    Weather in Monroe, NY