Yes, and you should be if you are truly using it 100% for business purposes. It is not any different than your home office....what ever % of your home is actually truly used for business only purposes....you should be deducting that % of the home expenses in relations.Is it possible to claim your garage in any way for use of the business as shop space or for the storage of equipment. My garage space is completely used up pretty much by everything for the business.
Correct - I seriously doubt they will come to your home and measure for you though if they are a good CPA.... Have your measurements ready for them and let them figure out what is accurate. Also remember if your home is being used as the primary business location when you go grocery shopping and pick up paper towels, T.P, Laundry detergent etc....a percentage of all those cost are also able to be deducted....so highlight those items on the receipt and put away for tax prep. Many many other things a CPA will help you remember too beside what little we have covered here.Yes also office space. If you dont use 100% of the garage they will just figure out how much you use then calculate the space to the sq. footage of the house then take off accordingly
Red Flag does not mean anything if your deductions are accurate however! I would not choose not to take the deduction because it might lead to a increased chance audit if that is true. That would simply be throwing money away.Be also aware that if you Google "IRS red flag" in 99 out of 100 cases the home office expense is in the list.
Not a friend, not a discounted rate, that was roughly my last year cost for my personal and my business returns being prepared. I think actual cost was closer to the 5 mark. That is with me doing some of the leg work however...if you think you are just going to walk in and hand them a years worth of receipts in a wal-mart bag and tell them to account....be prepared to pay for those services.$600 is that the friend for you or any one off the street?
How much will spending $600 get someone back on their income tax?
Any body have numbers to show how much this kind of write off gives?