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Can my small home business pay a percentage of my mortgage payment?
I work from home and my business literally takes up 2 out of 4 bedrooms, plus my 10 x 12 storage unit I had built. Can I have the business pay a portion (maybe 25%) of my monthly mortgage. Kinda like a rent schedule. Thanks
3 Answers
- Anonymous1 decade agoFavorite Answer
Well I suppose it will depend on the tax regulations in your country, but my accountant here in the UK always put in a rental charge for a room used as an office on my tax returns.
So I don't see why you could not charge the business a rental for the rooms and building that you use, might be a good idea to check with a legal person first.
- 1 decade ago
It would probably work out better for you to claim the portion of your home you use for business as a deduction on your taxes. That way you can include not only a portion of your mortgage but also your utilities, phone, internet service, etc, not to mention depreciation on the equipment and furniture you use, such as your computer and desk.
If you do charge your business rent, be sure to include all of these in the charges. Works out better most of the time to just deduct it all on your schedule C as "business use of home".
hth!
KK
Source(s): see details on "business use of home" at www.irs.gov - 1 decade ago
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Sincerely.
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