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marco2409
New Member

I own 100% of a Corporation C, but I have also business expenses on my own, how can I deduct them?

 
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3 Replies

I own 100% of a Corporation C, but I have also business expenses on my own, how can I deduct them?

What do you mean by business expenses of your own?  Are the expenses for the corporation?   If, so the corporation should have paid those, and they are not deductible on your Federal tax return.

marco2409
New Member

I own 100% of a Corporation C, but I have also business expenses on my own, how can I deduct them?

Example, I paid car insurance, I use the car for all my business activities, I need to deduct the depreciation, also I paid for my Health Insurance because the Marketplace is not enough to cover all the needs. Does the health insurance applies as Medical Expenses?

I use my office for a part of my business, and I pay Home Insurance, the income the Company has it is being generated for the activities developed at home and at the office. However, because is a C Corporation, the accountant did not apply all this expenses to the Company.

Please advise

Regards

I own 100% of a Corporation C, but I have also business expenses on my own, how can I deduct them?

You really need to find a good tax professional that can help you with the corporation and to TEACH you how to run the business. 

 

If the corporation did not pay for those expenses, pretty much none of that is deductible.  Again, find a GOOD tax professional to help you with these things.  

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