Reply by Sharon Taylor on 4/13/08 1:47pm
Msg #243337
It sounds like this would work well for some
I can't even deduct home office expenses since my home office is scattered throughout the house. Main computer, inkjet printer, 2-drawer file cabinet, small desk, phones in one room that is also used for other purposes; second computer, laser printer, shelves of office supplies in the next room which I also use for other purposes; 4 4-drawer file cabinets with catalogs and 2 big shelving racks full of samples for the promotional business plus storage boxes of past years' notary work in the lower level room which is also used for other purposes. Lots of space used by both businesses, but not in a way that would allow a home-office deduction, and there is no way we could effectively set up one space and use it exclusively as a home office, not here.
Interesting information, Regal. Some of the borrowers I've signed have the upscale homes and the type of businesses that would make it feasible for them to try this, though.
I think the IRS will have to become a bit friendlier toward home offices as time goes on as more and more and more people are working from home and running their own small home-based businesses.
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