>>>>>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.
>
>One of the things that the discussion over the last four years has done is convince me that single-payer is absolutely the way to go.
>
>Tamar

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