How do I take a home office deduction? related questions

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How do I take a home office deduction?0lomas2012-08-05 08:43:48
Here's my situation: (1) I'm a small business owner. My sole source of income is my LLC, and I have about 7 clients. I have one client who makes me work on site, and they are about 30 miles away. One client is in my city but I only go on-site once or twice a week max. I do 80% of my work from home across most of my clients. (2) I don't own a car, so when I travel to the client 30 miles away, I must rent a car, which is about $70/day. That adds up. I'd like to deduct that, but in order to do so, I must first visit a local client (which I can do) so that the trip from there is tax deductible, or I must make my office my "home office" so that I can deduct the trip from my home. My E&O and General Liability insurance policy is attached to my home address. It's the only "physical address" I have. The business mailing address is a PO Box and the registered agent is in Delaware. One main issue: My apartment is small! My rent is $1300/mo, but I live in a studio apartment, with probably less than 500 square feet of space. I use my kitchen table exclusively (and I mean exclusively... I never do anything except work here, and it's covered with my work stuff, like a fan, a scanner, etc.). Can I deduct that area as a home office? I'd probably only claim 10% of my rent, but then at least I would have my home defined as my place of work so that when I travel to a client, it is deductible from the second I leave my door...
For a home office vehicle tax deduction can you also deduct insurance, gas, and repairs?0chen2012-10-13 20:31:24
If you take a deduction of 15 % would simply deduct all expenses by 15 % .
How much of a tax deduction would we get back on our home mortgage?0lucas2012-08-18 06:32:03
My girlfriend and I are thinking of buying a house. I figured that a $ 110,000 mortgage would pay about $ 950 per month (with home insurance , PMI , and includes tax). My question is, how much of the interest that comes back year tax season ? I heard that you can deduct most / all interest paid . Is this true ? If so , what is the year? Moreover, since we are not married , does that matter ? Thanks in advance !
Can we take deduction of home insurance premium on tax return?0kayllie2012-08-05 05:02:03
With the new laws of deduction for home owners will rentals be law?0wezile2012-08-02 21:42:51
in florida homeowners have a reduction in house insurance..I would like to know if the savings will be passed on to renters?
Can I make this a home office?6-NeObLaZtErS- 2021-05-10 02:24:48
I live in a very small, one bedroom apartment. I believe it's no more than 500-600 square feet, if that. I have taken the big room and divided it into three areas. First, the kitchen. That has tiles. Second, the living room, which is defined by a carpet. Has a couch and TV. Third, the other corner, which has a kitchen table (which I NEVER eat on) and has my scanner, my laptop, a fan, and my bookshelf which has mostly computer books (and some of my other, general reading books). I'm a small business owner. My "business address" is my house on my insurance policies, and it is my only actual office (I don't rent space anywhere). My mailing address is separate, but that's because I use a mail service. I have 7 clients. Two require on-site work a day or two per week (and it varies a lot). I never go on-site for the other five clients (I do my work from home, always at this table). 1) Can I make the portion of the table a partial home office, so that if my rent is $1200, I can deduct perhaps $200-$300/mo? 2) Since this would be a home office, would commuting to my clients when they request (2 days a week or so, and it varies) be a deductible expense for gas/mileage? Since the majority of my clients are "work remotely", traveling is the exception. One client that I travel to is only a few miles away, but the other is 30 miles away and about 4 towns over. On those days, I rent a car (I don't own one). Thanks for any advice.
Does this quality as a home office?1A'Niyah2018-09-04 23:20:47
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 .
Renters insurance for a home office?0Jane2012-08-20 03:57:02
I work at home and I have some equipment that you can afford to lose ( a computer , multiple monitors , printers , etc . ) So I want to get renters insurance (for Chicago ) . However, a colleague told me that renters insurance does not cover items considered as part of a business . Not interested in insurance companies as they do not get any customers at home , but do not want to get renters insurance only to find that my work tools were not covered when I lose . I'll take an agent tomorrow , but I want to know my options beforehand. I'd appreciate any help. Thank you.
Landlord says I can't work from home office, is this legal?1Alice2012-09-09 01:36:02
I live in a 4 br house with roommates. One recently got married and moved out, so I decided I would rent his room and use it for my home office. I work remotely as a loan officer for a reverse mortgage company based in So Cal. My landlord now says it's not legal for me to use the room or any part of the house for my work purposes. I use my home office for phone calls and administrative purposes. I meet with clients in their homes, not mine. He says there are insurance/zoning laws which prohibit me from doing this. I don't believe this is true. Everyone has a home office these days, including my landlord, who lives about 20 miles away. Any qualitified advice and/or resources would be greatly appreciated so I can give him an educated response. Thank you. Home Student 20190MaxTurner2021-02-15 22:07:09 Home Student 2019  It is for those students and families who require specific classic Microsoft Office apps to create an ultimate work result.  
Asheville NC Home Office Imperial Life Insurance Co0Chris2012-01-02 05:49:10
Asheville NC Imperial Ministry of the Interior Life Insurance Co
What can i send to home office for 'comprehensive sickness insurance'?0SWAPAN2012-11-02 06:26:53
is anybody knows what is 'comprehensive sickness insurance for student' which Home Office wnats me to send them for applying residency in the UK? university does not know, my solicitor said:'never heard of it'(what a rubbish one, realy), Home Ofiice website is not helpfull even with their quid on their return letter two times (well it is Home Office!!). anyway is there anybody knows about it? what can i send them?

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