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Can I expense home office for my s corp at a flat rate, and not have to show it as income on my personal taxes?

I have a single shareholder s corp for my consulting business. No other employee.

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DDollar
Expert Alumni

Can I expense home office for my s corp at a flat rate, and not have to show it as income on my personal taxes?

No, unfortunatley you cannot take a deduction as an non-reimbursed business expense as an employee of the S-Corp, nor you cannot deduct any expenses at the S-Corp level for the use of your home unless the S-Corp pays you for the use of your home, in which case you would have to report it as rental income.

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3 Replies
DDollar
Expert Alumni

Can I expense home office for my s corp at a flat rate, and not have to show it as income on my personal taxes?

No, unfortunatley you cannot take a deduction as an non-reimbursed business expense as an employee of the S-Corp, nor you cannot deduct any expenses at the S-Corp level for the use of your home unless the S-Corp pays you for the use of your home, in which case you would have to report it as rental income.

Can I expense home office for my s corp at a flat rate, and not have to show it as income on my personal taxes?

Darn it...but thank you very much.
DDollar
Expert Alumni

Can I expense home office for my s corp at a flat rate, and not have to show it as income on my personal taxes?

You're welcome.  Thanks for using TurboTax!

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