Good point, I wouldn't want the IRS to walk into the room and see a TV and freak out.. Those people are assholes!
On Thu, Jan 20, 2011 at 1:36 PM, Ras Tafari <[email protected]> wrote: > > id fully recommend NOT claiming part of anything on your taxes > in relation to a home work office. > > its a red flag and no one needs any sort of red flags when it comes to filing. > > if the slightest bit of NON work is audited at your house, you're in trouble. > > anyway... im no cpa, but ive talked to mine about this. > > > On Thu, Jan 20, 2011 at 2:21 PM, Sam <[email protected]> wrote: >> >> I agree, I hear you can't even keep non business clothes in the closet. >> >> >> On Thu, Jan 20, 2011 at 2:17 PM, Justin Scott <[email protected]> wrote: >>> >>>> So I need to gather up receipts for the time I've been 1099 then. I'll >>>> probably take all this to H&R block and just not deal with it. I'm >>> >>> Personally, I'd stay away from H&R Block. They charge per form that >>> has to be filed and the people there, while qualified, are generally >>> part-time and not year-round CPAs who have intimate knowledge of the >>> finer points of the tax code. Find a decent independent CPA or tax >>> firm and spend the extra time with them to do it right. Form a >>> relationship with them and meet quarterly to review where you are and >>> estimate your tax burden and make adjustments as you go through the >>> year. You'll probably save a lot of money in the long run. >>> >>> As for expenses, the last time I went down that hole I was told that >>> you can deduct a percentage of your rent/mortgage in proportion to the >>> total square footage of the home used for the business, but only if >>> that area of the home is used ONLY for the business. For example, if >>> your home office also doubles as an entertainment room for the kids on >>> the weekends, then it may be disqualified. The rules and advice I got >>> in that area were fuzzy, so talk to a CPA. >>> >>> As for expenses, track them and keep receipts. Usually you will need >>> to deduct expenses in the tax year the purchase was made. For some >>> items, such as computers and other relatively expensive fixed assets, >>> your accountant may suggest using a depreciation schedule to spread >>> the cost out over a number of years (i.e. you buy a computer in 2010 >>> and deduct 20% of its cost on your 2010 return, another 20% on the >>> 2011 return, and so on for five years). Usually this would be set up >>> in the tax year it was purchased, so if you bought a computer 3 years >>> ago and now only use it for your business, you may be out of luck to >>> deduct its use as an expense. >>> >>> Again, I'm not a CPA and this isn't tax advice. Talk to someone qualified. >>> : >> >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:333619 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
