Tax Expert Noel Spencer: S Corporation Office In Home Deduction

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.

Comments

Museum Village has reschuled its winter exhibit and farmers' market to Jan. 27 MONROE — Due to the approaching inclement weather approaching, Museum Village has rescheduled its winter exhibit and farmers market... Read more » Albert Wisner Public Library to host author of 'Beauty in the Broken Place' on Jan. 27 WARWICK — The Albert Wisner Public Library will present New York Times bestselling author Allison Pataki on Sunday, Jan. 27 at 12:30 p.m.,... Read more » Woodbury Public Library announces its February adult events HIGHLAND MILLS — The following is a list of programs and events for adults at the Woodbury Public Library during... Read more » Baby, it’s going to be old outside - with snow, rain and ice First Due Weather from the Compound tells its followers to “Keep watching,” and so we are. On the heels of a minor snow event and school delays today, Jan. 17,... Read more »

---

Subscribe to our mailing list

* indicates required

Email Address *

Community Newspapers

• Advertiser News North
• Advertiser News South
• Chronicle
• Photo News
• Pike County Courier
• Sparta Independent
• Township Journal
• Warwick Advertiser
• West Milford Messenger