Do you see general contractors that line up subs/architects get an allocation for 179D? If the general is working as construction manager and has oversight for the project can they achieve an allocation?
Hi Tom. This was great. This comment confused me though because it seems to contradict the whole write-up on the Augusta rule "Business owners generally should not rent portions of their residence to their corporation." Are you saying you should rent the entire house, not just once room within the house? I have a few clients who work from home and have their own clients come over. Would this situation be a good use of the rule by renting a room within the house to hold said meetings? It sounds like you are saying this is nota good use of the rule and that an accountable plan would be better. Thanks again.
business owners should not rent their home office space to the corporation and pay rent. The accountable plan is much better for a home office benefit.
Does 280A(g) only apply to primary residences or can I use my vacation home for meetings?
It is available to any residence of the taxpayer.
Do you see general contractors that line up subs/architects get an allocation for 179D? If the general is working as construction manager and has oversight for the project can they achieve an allocation?
How does reporting this on a return look? Do you add it on Sch 1 page 1 other income and back it off on the page 2?
No response?
Hi Tom. This was great. This comment confused me though because it seems to contradict the whole write-up on the Augusta rule "Business owners generally should not rent portions of their residence to their corporation." Are you saying you should rent the entire house, not just once room within the house? I have a few clients who work from home and have their own clients come over. Would this situation be a good use of the rule by renting a room within the house to hold said meetings? It sounds like you are saying this is nota good use of the rule and that an accountable plan would be better. Thanks again.
business owners should not rent their home office space to the corporation and pay rent. The accountable plan is much better for a home office benefit.