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Tax Strategies for the Small Business Owner: Reduce Your Taxes and Fatten Your Profits by Russell Fox

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The Office

I just filled out my income tax forms. Who says you can’t get killed by a blank?

—Milton Berle

The single largest investment for most Americans is a home. Many small businesses are conducted out of the home. This chapter focuses on the office, whether it is rented or in your home.

The first part of the chapter looks at the rented office. Certainly rent is deductible. But how are leasehold improvements handled? What’s done with CAM charges?

The second part of the chapter looks at the home office: which home offices are (and are not) deductible and how the type of business entity changes the deductibility. The chapter closes by looking ...

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