How Fo You Determine Cell Phone Expense Taxdeduction For Home Business?
Sep 25, 2009 in
Yahoo! Answers
It is used for both personal and home, although the cell number is the only business line used. I am itemizing deductions as well.
-
Categories
-
Archives
-
Tag Cloud
About Affiliate Anyone Based Best business Businesses Does Earn Find From Good Guide Have home Internet Jobs Kind Know Legit Legitimate Like Make Marketing Money Need online Opportunities Paperback Sell Should Small Some Start Starting That There Want Website What Where With work Would Your -
Meta
September 25th, 2009 at 4:06 pm
You must prorate the time used for business and time used for personal usage. If it is 50/50 then deduct 1/2 on your Sch C.
Added
These cell phone deductions are coming back to bite people in audits right now.
September 25th, 2009 at 10:36 pm
Theoretically, you should prorate personal and business use, but practically, it is a business phone and the entire cost should apply to the business. Virtually every business phone anywhere in the world is sometimes used for personal purposes. the business needs the phone and it incurs the entire expense. So do as Patrick suggests.
September 26th, 2009 at 4:41 am
claim it all. it is a business tool that is occasionally used for personaly use. perfectly reasonable for a company to have a phone – which is the test.