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Old 12-09-2003 | 09:51 PM
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How much can I deduct for having an office in my home.
I also use part of my garage and basement for storage of supplies and tools.

I am looking for a number that will not throw up a red flag. I will do everthing legal but just don't want to get audited.
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Old 12-09-2003 | 10:18 PM
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I think you then have to claim income from the rent you pay for the home office. Talk to an accountant, I do every so often when I forget why you can't. Never pans out for me. Dave
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Old 12-09-2003 | 10:21 PM
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I've been telecommuting full-time for the last 4 years, and have yet to try and take a deduction for it. Every accountant I've spoken with told me it isn't worth it. Supposedly a major red flag, regardless of what you deduct for it.
I don't know how true that is, but I don't need to find out either.
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Old 12-09-2003 | 11:15 PM
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Originally posted by rainmn
I've been telecommuting full-time for the last 4 years, and have yet to try and take a deduction for it. Every accountant I've spoken with told me it isn't worth it. Supposedly a major red flag, regardless of what you deduct for it.
I don't know how true that is, but I don't need to find out either.
My accountant also told me the same thing. He told me the deduction I would get was not worth the possibility of the flags it throws up and the hassle of completing it.
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Old 12-10-2003 | 10:11 PM
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I am talking a real business office here.
I own the business.
If I rented an office somewhere that can be written off as a business expence so why can't I wright off some of the cost of using my home as an office???
This is all that I do.
I run a small HVAC business out of my home.
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Old 12-10-2003 | 10:16 PM
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I was told the same and I will be working from
home and I will have a few computers on the heat on
so my utillities will go up without a doubt.
I was told to keep it realistic
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Old 12-10-2003 | 10:19 PM
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At the time I talked to my accountant about using the deduction I was in business for myself and using my house as an office.

I could be mistaken but I think if you use the deduction you have to pull the amount of deductions out of the basis you have in the house. For the amount of deduction it was it seemed like it was too much trouble. I would talk to an accountant about it if I were you. Things may have changed since then or it may be worth you while.
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