i have a home based business and have a personal phone line. I would like to add a second phone line strictly for business, and i’m wondering if that is going to be tax deductible? the fee is going to be $49.99/month or close to $600 per year.
Can i deduct this amount when filing taxes as a business expense?
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If the line is in the business name, yes.
I do, as well as my DSL and my Cell Phone (they are business) I have personal as well. You can deduct all business expenses.
Lets say your house is 2,000 square feet your office is 500 square feet. Then I deduct 25% of my utilities, 25% of my mortgage, 25% of everything.
Call a tax accountant, he will tell you the same
yes, as long as it is dedicated to the business. But remember the irs has specific rules on home office. Visit
http://www.irs.gov.
A longer answer would require quite a bit of information from you. If you have a business you should have an accountant and he/she will be able to explain it to you.
Yes you can its like any other thing that you would buy and use for your business like paper,stamps,computer,gas oil milage for your car or truck,part of your house,part of your elect bill,
Anything thats business related can be deductible but you will need to save receipts to file at the end of the year.
hope this helps.
Having a second line will make your deduction more credible. Make sure all your marketing literature has the business number on it. I have a business line and when I am away from the phone, I have my calls forwarded to my cell phone, (also deductible), so I can be in contact with my clients 24/7.
It is a good idea to get a second line that is separate from your personal line. That way there is no questioning the percentage you are using your phone for business versus your personal usage. Regardless of the home office deduction, your 2nd business line would be deductible 100% as a separate business expense on Schedule C or your business’s tax return.
It is generally not be deducted as part of the home office deduction as telephone expenses are necessary business expenses and are treated separately from the home office deduction, so it would not be subject to the home office percentage.
Hope this helps!!