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

College Admissions Expert Elizabeth Levine: Excelsior Scholarship
Live in NY State and wondering what this Excelsior Scholarship is all about, if you qualify and what’s the catch? Watch this weeks Tuesday Talks with Liz and get the low...
Read more »
Image

Local law firm to represent West Point drummer hit with axe during ‘Fox & Friends’
BY ERIKA NORTON
The West Point drummer who was hit by an axe thrown by a “Fox & Friends” co-host during a...

Read more »
Image

Church to host program 'Be SMART with Firearm Ownership: Protect Children and Save Lives' on June 24
ROCK TAVERN — Each year in the United States, nearly 300 children aged 17 and under gain access to a firearm and unintentionally shoot...
Read more »

Cheers to the Class of 2018 Monroe-Woodbury to graduate over 575; Tuxedo says farewell to 28 students


Monroe Woodbury’s Kendall Fiorianti: “….I’m leaving behind a chapter in my life and continuing on my journey to make the world a better...

Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers


MOST COMMENTED



Weather in Monroe, NY