What qualifies as a home office for tax deduction purposes? I live in a 1 bedroom apartment though??
So, since I live in a 1 bedroom apartment, I do not have a room or office that I can exclusively use for my business. I do however, have a section of the apartment that I exclusively use. Does this count? I am planning on meeting with a CPA to discuss, but wanted some knowledgable guidance before going in? I’m sure there is something that protects someone like me in the tax code…or maybe not. If so, maybe it’s worth it to get into a 2 br apartment. Buying is not an option for me right now. So please, keep your responses to the apartment living situation. Also, is the SUV tax break as sweet as it sounds. For a 40K Volvo XC-90, I’m calcuating 28,000 in write-offs the first year or more (though I guess it depends on usage and this is one of the reason where my home office write off comes in). And believe me, I own my own biz and derive 60% of my income from it. Thanks! A: http://www.irs.gov/taxtopics/tc509.html IRS Business Use of Home – Yes I will say it will qualify but as the one per
