Do you operate your business as an S corporation?
Does the S corporation reimburse you as an employer for your costs of having an office in your home?
If so, you created a powerful tax savings tool that allows you to
increase your vehicle deductions by converting personal commuting mileage into business mileage;
convert a percentage of personal home expenses into business expenses; and
avoid potential home office red flags when you file your tax return.
But what happens when you sell your home? Does the tax come roaring back?
No! With proper planning, as we explain in this article, you can escape the tax entirely.
Note. We wrote this article for the S corporation owner, but if you operate a different form of business, you can also take advantage of the techniques in ... Log in to view full article.