WIll my home office business get me in TROUBLE?

[GatheringGroup]

I am starting a home-based business. Can I combine services such as internet and phone to include both personal and business use? How do I do this while being able to maintain the maximum amount of tax deductibility for the business part of these total expenses?

 

[peter]

Best way......Have seperate phone lines for home and business, and seperate rooms, use a bedroom for the business, seperate computers, seperate ISP accounts,

Separation is what will be needed to be proved when asked.....

 

[JETX]

Strict separation is no longer the critical item as before. The IRS has gotten much more lenient in determing deductions for home offices. Contact your local IRS office and ask them for the 'handbook' that discusses home offices and deductions. It is a 'freebie'.


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Steve Halket
Judgment Recovery of Houston
[email protected]
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This is my PERSONAL OPINION and is not legal advice! Consult your local attorney for your specific situation and laws!