Small Business Tax Q&A: September ’17 — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
  • LinkedIn
  • YouTube
  • Twitter
  • Facebook
  • Google+

Small Business Tax Q&A: September ’17

Get PDF file

by on
in Small Business Tax

Create your own business space

Q. I use part of my family room as an office for my sideline business. Can I claim home office deductions? K.R., Katonah, N.Y.

A. Potentially, yes. To qualify for home office deductions, you must use the office space “regularly and exclusively” for your business activities. But exclusive business use doesn’t mean you can never set foot in the room for personal reasons. Although the room doesn’t necessarily have to be physically partitioned off, a specific area of the room must be kept separate and identified as the business area. For example, you might keep a desk, file cabinet and computer and printer in the separate space.

Tip: Conversely, if you have a TV and couch and wet bar in the same area, the space won’t qualify.

Does employer owe extra payroll tax?

Q. If an employee has to pay the additional Medicare payroll tax, does the employer have to match it? M.L.P., Cleveland

A. No. The addit...(register to read more)

To read the rest of this article you must first register with your email address.

Email Address:

Related Articles...

Leave a Comment

Previous post:

Next post: