Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-17-2008, 07:29 PM
Junior Member
 
Join Date: Mar 2008
Posts: 6
office deduction / roof repair

HI-

This is SUCH a great resource - thank you for this forum.

I work out of my office at home. I am a web developer and it is a dedicated room in my house.
I was wondering, I had to replace the roof on my house this past year, is any of that cost tax deductible? I do not want to push the envelope, so if it's not a good idea, that is ok. I seem to have many friends that are contractors as well, and with any home repair at all they find a way to take the deduction because they work from a home office.

Thanks in advance...

Shawna



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-17-2008, 10:32 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,399
Blog Entries: 3
Are Roof Repair includable as a part of Home Office Deduction Expenses?

Actually, I recently wrote an article as to what the rules are regarding home office deductions. Please refer to the following link below, which discusses the allowable expense that can be included as part of Home Office Deduction.

What are the rules regarding Home Office Deduction?

Let us assume that you have actually satisfied the IRS conditions to claim an Office at Home. So you would then be entitled to claim all reasonable and necessary expenses related to this office. The IRS rules included in the article above states all the expenses that are includable as part of the Office at Home Deduction.

Since Repairs are included, then it would seem reasonable that repairs would qualify as a part of your overall home office deduction expense. But, remember, the amount that can be deducted as qualified expenses would be:

Sq footage of Home Devoted to Business
------------------------------------------------x Total Repair Expenses
Total Sq footage of the Entire Home

So, in fact, it is only going to be the % of home used for business multiplied by the Repair expenses.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #3 (permalink)  
Old 03-18-2008, 09:19 AM
Junior Member
 
Join Date: Mar 2008
Posts: 6
Smile

Yes, I read your very informative article - thank you.
All of my home deductions are calculated this way - my office is only about 15% of my home space - just was not aware that home repairs could be factored in as an expense.

thank you again...



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Can I claim mileage along with actual auto repair expenses? andri Auto Expenses 3 12-05-2011 06:36 AM
What are the rules regarding Home Office Deduction? TaxGuru Miscellaneous 0 03-14-2008 08:25 PM
Home Office Deduction Samatg General 0 03-15-2007 08:01 PM
Office at Home Expenses-What is deductible? BebopVT Sole-Proprietorship 0 01-19-2007 07:46 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning