Does this quality as a home office?

Answers:1   |   LastUpdateAt:2018-09-04 23:20:47  

Asked at 2012-08-25 05:29:03
I live in a small apartment ( two rooms , a bedroom and a combo living room / kitchen) . I own a small business and have about 7 clients . For five of those clients , working from home . For two of them , partly to work from home , but sometimes I have to be in place . When I have to go to the place which is very expensive , and not own a car, so I tend to rent a car. The problem is that , from what I understand , if I can not quality for the home office deduction , then the rental cars are not tax deductible or, as transportation to his " first job " is not tax deductible . That would suck . MedlinePlus MedlinePlus Although my apartment is small ( 600 square feet or less) , I made a whole corner of my combo kitchen / living room and a dedicated home office space . It is only 8 feet by 8 feet in place , but I have a professional desktop there ( bought with company funds ) , with chair and a rug from under it . NOTHING staff is in the area, but does not share the same room with my physical TV / sofa , which is in the other corner . MedlinePlus MedlinePlus Is this acceptable for a home office deduction ? I probably only deduct 10 % of my monthly income , but the good thing is that my trips to / from customers would be tax deductible to rent cars and such. Based on IRS guidelines , I think this falls under the " regular and exclusive use " rule. For what it's worth , while I have a PO box address for my business , as I have no other physical place , my insurance policies for the company ( general liability , errors and omissions , etc. ) are linked to my home as well .

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