Max W Posted February 26, 2018 Report Posted February 26, 2018 Clients has a new S-corp and wants to claim home office and attached garage for parking company vehicles overnight. Is there any problem with this? TIA Quote
Jack from Ohio Posted February 26, 2018 Report Posted February 26, 2018 Strictly not allowed. 3 Quote
Abby Normal Posted February 26, 2018 Report Posted February 26, 2018 S corp can rent the space but self-rental rules apply. Taking money out as rent reduces amount available for reasonable salary. 4 Quote
Max W Posted February 26, 2018 Author Report Posted February 26, 2018 Wait! Owner can be reimbursed for Home Office Expenses, as an employee, under an Accountable Plan. My only question is can the garage be included for parking the company vehicles? Quote
jklcpa Posted February 26, 2018 Report Posted February 26, 2018 21 minutes ago, Max W said: Wait! Owner can be reimbursed for Home Office Expenses, as an employee, under an Accountable Plan. My only question is can the garage be included for parking the company vehicles? Is the garage space used exclusively and meet all the tests to be considered as part of "home office" space? Quote
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