I’m looking at renting a small office studio space for work. I read on google I could expense 100% of the rent and utilities for this space. I have an S. Corp set up. Does this all check out or is there anything I need to watch out for in order to write off 100% of that space? 1099s have been rare so like 95% of my income this year has been W2, just for reference.

likesmart
Posting as :
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You are currently posting as works at

I think you should talk to an accountant. You can only run 1099s (not w2s) through your scorp and you can only deduct against that income.

likehelpful

Damn. This is what I feared. You’re right I gotta talk to someone. Thank you!

like

Maybe industrious?

smart

Unless you’re seeking an actually brick and mortar space just for your own. It would depend on your area where’d you like to be in and also the space only being yours.

I’m interested in your career though!

funny

It’s deduct, not expense, I believe.

helpful

It’s a deduction (not expense) based on the city, state, and square footage. Talk to a real, live, human accountant. Not google. 🤦‍♂️

like

Sweetie baby honey it was a brain fart/typo as you can see laid out above. Get out of here go do something worth your time.

If you have a live-work space, you can write off a lot more as an s-corp.

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