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Posted: 3/28/2002 11:14:33 AM EDT
Is there any way at all to write off rent paid? Any way?
Link Posted: 3/28/2002 11:45:47 AM EDT
A home office for self-employed, or employees that require an office but employer does not have one readably available can deduct the percentage of the house that is used for the office from the rent. As with the light bill, heat bill,and other utilities. Day care providers can also deduct a percentage of their home as operating expense. The home office is a red flag to the IRS due to past abuse. You MIGHT want to comply to IRS regulations on this issue. The IRS has a lot of info on their web site. www.irs.gov
Link Posted: 3/28/2002 2:52:34 PM EDT
Assume you are talking about an apartment or rented house. D348 is right, and would probably also tell you that in addition to other requirements, you can only write off the part that is used exclusively for your business, which I believe is usually taken to mean a separate room or building you hold.
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