Shareholders Home Office - Reimburse Expenses
If you are a shareholder using your home as your sole business location, you may be able to take a Home Office deduction through your business. Even though you maintain your sole business office in your home, you CANNOT rent your office to your business. However, you can enter into an agreement with your corporation to reimburse you for your office expenses including utilities, repairs, and depreciation. This is somewhat aggressive. However, we believe such a reimbursement of specific expenses to be allowable. We suggest you submit a request for reimbursement to your corporation at least quarterly and have the corporation pay the request as it would any third party bill.