tax deductions for home-based biz while you rent

[David Slimp]

I just got an email back from the associate of my CPA.

I had asked him about how it would have affected my taxes last year
to have rented my house out rather than my living in it.

I thought one of the pieces of info he gave back would be of
particular interest to our group... and that is.. that he seemed to
say that even if I had been renting another place for myself to
live in (while I rented out my main house), that I could also deduct
some of my apartment rent for the home biz.

I had thought I could only deduct HOME expenses if I was living in
the house I was paying mortgage on, and claiming it as my primary residence.

Specifically, then... this has a significant impact on Drew and Paula,
and maybe others in our group, but now more than ever you should
get "some" business started so you can start deducting!!


David



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David Slimp:   http://www.David-Slimp.com/

[Paula Accomando]

Awesome David, 

Thanks for the info.  

I had a lot of fun last night, I really like that game,  wanna play again soon.

Paula