Building for home based business
If i get a second home, could I use it for my home based business?
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beUpRQNiWr3PKzacfA8pyY
09/08/09 8:29am PDT
Viewed by asker 09/17/09 8:37am PDT
Viewed by asker 09/17/09 8:37am PDT
2 Replies
grrepovschcpa
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Allstar
Advisory council of community power users.
09/08/09 9:59am PDT
Sure. What is the real question? Can you deduct all of the costs? Not usually. Unless it is 100% business use. And that is only for a sole proprietor. If it is a corporation, you cannot rent to yourself. You would have to purchase the house through the company. You would be better off to discuss this with a tax professional before you dive into it head first.
Marc Barnes
Copper Canyon Tax
Find me on LinkedIn
09/08/09 11:25am PDT
Latest post
Ok Ok I am a sole proprietor, LLC- I want to get a second home........... I have an event planning home based business. I just want to conduct all my business there on an as needed basis. Is it possible for me to get the second home to yield the tax advantage or would I need to get commercial property.
