Hi does anyone know if you work from home does utilities and services like internet have to be in a business name to be counted as work related expenses? There are a few photgraphers that work with us and they work from home. They use there internet for business related services and have home studios they use while working with us. Also is your business website and all expenses related to it such as hosting ect have to be in a business name to be added as a business expense? Here is our business site www.charlestonsnapped.com Thanks and any help on this would be great.
If the person is deducting a portion of the space in their home for business use, then they can also deduct a portion of the utilities associated with the business. For instance, if the home contains 1,800 square feet and the business owner is deducting 25% of that space for business use, then he/she can deduct 25% of electricity and heat. A dedicated phone line should be in the business name. A web site should also be in the business name. If the person is using the same internet service to host the web site and to provide personal email, then a portion of the internet service would be deductible as a business expense. The same is true for a cell phone registered in the person's name. If the phone is also used for business, then a portion of the monthly bill is deductible as a business expense. You may want to talk with your accountant or tax perparer if you are unsure of what is deductible and what isn't.
kmurray | Community Moderator | 12/21/2011 - 12:04 pm
BizResearcher | Window Shopper | 12/20/2011 - 1:12 pm
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