When it comes to the home-office deduction, sole proprietors have it easy. All they have to do is deduct home-office expenses on Schedule C.
But what about folks who operate their businesses as S corporations? Can they also take advantage of the home-office deduction?
The answer is a resounding “yes!” but you have to know how to play the game.
We’ll explain how to come out a winner when you read my new article titled Tax Tips: Lock in the Home-Office Deduction for Your S Corporation.
Three ways our fact-filled article can help you:
- We’ll keep you from making two serious errors. Some taxpayers rent their home office to their corporation. Others claim the home-office deduction on their personal tax return as unreimbursed employee expenses on IRS Form 2106. Wrong and wrong! We’ll tell you why these are losing strategies when you read the full article.
- You’ll learn the right way to lock in your home-office deduction. Here’s our advice in a nutshell: Use the reimbursement method. There are just three steps you’ll need to follow which we’ll explain fully when you read the full article.
- We’ll tell you how to audit-proof your home-office deduction. To make things go smoothly you’ll need to provide the IRS with five kinds of proof. But don’t worry. They’re easy to come up with as we’ll explain when you read the full article.