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Subject:
TELEVISION IN OFFICE SPACE
Category: Family and Home Asked by: clownkathy-ga List Price: $2.00 |
Posted:
03 Sep 2003 08:40 PDT
Expires: 03 Oct 2003 08:40 PDT Question ID: 251796 |
CAN YOU HAVE A TELEVISION IN YOUR OFFICE AT HOME? | |
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Subject:
Re: TELEVISION IN OFFICE SPACE
Answered By: tar_heel_v-ga on 03 Sep 2003 11:45 PDT |
clownkathy.. Thanks for your question. The home office deduction is one of the most misinterpreted tax breaks there is in that everyone has an idea of what can be considered a home office. There have been some changes to the home office deduction. "The three most common ways small businesses can qualify for the break: The home office is your principal place of business, and you use the office space regularly and exclusively for business. The home office is not your principal place of business, but you use it to meet regularly with clients (again, you have to use the space exclusively for that purpose). The home office is not your principal place of business, but it is in a structure separate from your home that you use regularly and exclusively for your work. One common example cited is a florist who grows plants in a greenhouse or converted garage space on his property." Home office deductions open to more workers http://www.bcentral.com/articles/anthony/124.asp There are other qualifications that can be found in IRS Publication 587 "Business Use of Your Home". You can download the PDF version of this Publication at http://www.irs.gov/pub/irs-pdf/p587.pdf The deductions you can make are fairly complicated, so I would recommend that you speak with your financial advisor or accountant regarding the amount you can deduct. As for having a television in your home office, that is a bit tricky. An example where you may be able to continue to make the deduction is if you are an independent stock trader and the television is used to monitor business news. If there is a business use for the television, it shouldn't effect your deduction. Again, being that each individual case is different based upon the use of the office space, consult an accountant or tax attorney. Thanks for your question. If you need any additional clarification, please let me know. Regards, -THV Search Strategy: tax rules home office References: Tax rules eased for home-office sales http://www.bcentral.com/articles/anthony/124.asp Home office deductions open to more workers http://www.bcentral.com/articles/anthony/123.asp |
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Subject:
Re: TELEVISION IN OFFICE SPACE
From: respree-ga on 03 Sep 2003 10:02 PDT |
Yes, of course you can. Did you mean to say "should you?" I work out of my home and my television set is 15 feet from me. I 'never' turn it on. If I do, I find myself watching TV all day instead of working. Depends what your goals are and how disiplined you are, I suppose. |
Subject:
Re: TELEVISION IN OFFICE SPACE
From: myusername-ga on 03 Sep 2003 10:29 PDT |
The asker could be referring to IRS tax regulations. Perhaps the concern is whether or not you can deduct the cost of a home office if there is a non business related use for the room also. |
Subject:
Re: TELEVISION IN OFFICE SPACE
From: clownkathy-ga on 03 Sep 2003 11:03 PDT |
Yes, that is what I am asking.If the room I am using as my office is also my den, can I use this room as my office and still use it as a tax deduction? |
Subject:
Re: TELEVISION IN OFFICE SPACE
From: respree-ga on 03 Sep 2003 11:57 PDT |
In order to take a tax deduction for a home office, the deducted area of your home has to be used 'exclusively' and 'regularly' for your home-based business. If you can justify that your den and TV is used 'exclusively' to conduct your business, then the answer is yes. Its probably not, but practically speaking, here's the reality. In order for you to get into 'hot water' you'll need to be audited. Otherwise, the IRS has no way of knowing if there is a TV in your den or whether your den is used exclusively for your business. Alternatively, you can just move the TV (any any other furnishings/articles that might indicate the the room is used for something other than business) out of the room if you get visited by the IRS. Chances are very slim anything will go wrong, but the decision will depend on your conscience. Some people sleep better at night knowing they've complied to the letter of the law. While the IRS does do random audits (1% or so, I think), they've got bigger fish to fry than you. I wouldn't worry about it. Please note that I am not a tax accountant or lawyer. The views expressed here are my personal opinions and should not be considered professional tax advice. This article may be of interest: http://www.quicken.com/cms/viewers/article/taxes/54902 Search results: ://www.google.com/search?hl=en&ie=UTF-8&oe=UTF-8&q=%22home+office%22+deduction+exclusively+regularly Hope this informations helps. |
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