Do you guys run your business out of a home office or a regular office?
Home based office. I pay the wife for rent.
Perhaps you were cracking a joke. I recommend that you actually do just that, for 2 reasons: Taxes, and asset protection reasons.
Outside offce combined with my constructin company
No joke. I write myself a check for salary earned and one to my wife for rent. Have done it since I started business.
Good idea. I cut my wife a check for various expenses as well.
I thought they cracked down on that home office stuff in the eighties?
One thing I recall is you must prove it is not used for anything else , plus the government has a right to drop by your office anytime they feel like it.
My neighbor has a friend that owns a large construction company that is run from a home office. They got a visit from the IRS which found personal stuff in the home office and they had to pay thousands in penalties. I have absolutely no personal belongings in my office and have a CPA do my taxes quarterly. She hasn’t seen any issues with my arrangement.
in fact put the whole business in her name and you can get government contracts based on minorities. it helps if she’s a handicapped immigrant also.
So what happens if your home office is your car?
You’re poor and homeless???
So if they find a picture of your wife on the desk ,does that count as personal or not since she is your boss ?
they do come by! they where at my house a few weeks back…bunch of well the mb wont let me say those words here…just to show you they do look at these things. good thing my home office is just that!
Yup, When I heard they can come knocking, we got all the personal belongings out of the office.
Exactly what dates ?and speak up please.
For now I have my office at home. In the next year or so I would like to hire another inspector and rent a small office space. A huge sign on a busy street in front of an office with a pretty secretary would be good advertising. ;)
Outside office. Two girls answering phones. They do all the office stuff like mail, scheduling, etc. My wife and I are both inspectors along with a third guy-non family. No time for the mundane office stuff.