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02-06-2001, 10:58 PM
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LawnSite Member
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Join Date: May 2000
Location: New Smyrna Beach, FL
Posts: 156
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I originally posted this to the lawn forum, on second thought this is probably where it belongs.
A friend of mine who just completed her taxes courses to be a Tax Preparer (NOT accountant, just preparer) told me that since I incorporated this year that I cannot take my home office/garage deduction. I have heard this about C Corps but is this true under S Corp as well?
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GrassRoots Lawn Care, Florida
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02-07-2001, 12:54 PM
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LawnSite Bronze Member
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Join Date: Feb 2000
Location: Midwest
Posts: 1,278
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Check with a CPA.
We're an S corp, but I'll be honest. I don't recall what happens in the first year. But I haven't been taking more than a standard deduction. The benefit for now isn't worth the huge increase in the chance that I'll be audited.
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02-07-2001, 02:52 PM
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LawnSite Member
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Join Date: Jan 2001
Location: CHILI ,NY
Posts: 20
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office deduction
the way you take a deduction as s corp is by writting a check for rent to yourself. if you are using a room or garage for buz use only .thatis better then any other way. the $ amount is an expense.
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02-07-2001, 09:44 PM
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LawnSite Senior Member
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Join Date: Aug 2000
Location: eastern,Ma
Posts: 663
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That sounds about right what lawnguy said.We do it with are office pay your self to rent the space it's more B/S but that what they want.
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