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Can I pay a portion of my rent using the business account?
I was reading about the home office deduction & got confused: https://www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction.
What does it mean that our home office rent is tax-deductible as a business expense? Does it mean that we pay the full rent using our personal bank account then take the home office space rent as a deduction on our personal income? Or does it mean that we’re allowed to pay a portion of the rent using our business account (depending on home office %)?
I would assume it's the latter because why wouldn't the IRS let you pay for a business expense using funds from the business.
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January 5, 2020
9:31 AM