>>>Do you run your business out of the home? If so, you can deduct up to 25% of house expenses (taxes, utilities, etc) unless that's been taken away.
>>>
>>>No, it has not been taken away, but we only deduct 1/7 of the expenses - 7 rooms not counting the bathrooms - because that was how my accountant told me to do it. It must have been a good idea because we have never been audited and home office deductions are a red flag to the IRS.
>>>
>>>And, as an 'S' corporation, you're already deducting business expenses from your total income, are you not?
>>>
>>>Yes. Of course. However, as you said, they are BUSINESS expenses - not personal ones <s>. If I worked for someone else full time, I wouldn't be paying any of those expenses - like $1500 per month for our health insurance. Also, since we both drive company cars, we get taxed on our personal use of them.
>>>
>>>**Not trying to be provacative, just asking**
>>>
>>>I didn't think that you were trying to be provocative <s>.
>>
>>$1500/month?! Holy moley. I pay about $450/month for my daughters and me and that seems outrageous enough.
>
>Ours is, I think, in excess of $2000/month for the two of us. (Not sure because one of Marshal's companies pays it.)
>

Pssst .... health care reform ;-) Don't let anyone hear you.