• Customizing Your Business Deductions

    Business Use of: Home Office, Auto's, Equipment, & Intellectual Property

  • ABOUT THIS DATA FORM:

    Please review this information carefully.  The information provided on this form will be used in our firm client database and tax reporting. 

    Estimated Time to Complete:  5-15 minutes

  • BUSINESS USE OF HOME - Defined

    Can I use my home office for business?

  • IRS Publication 587 States:  

    Your home office will qualify as your principal place of business for deducting expenses for its use if you meet the following requirements:

    1. You use it exclusively and regularly for administrative or management activities of your trade or business.

    2. You have no other fixed location where you conduct substantial administrative or management activities of your trade or business.

  • Please note per IRS Publication 587

    You can have more than one business location, including your home for a single trade or business. The administrative office is a “principal” office.

    • You must use this office exclusively for business.
    • You must use this office regularly for business.
    • You must do your administrative work in your home office.
    • You must not do your administrative work in the office outside the home.

  • In checking YES, you are verifing your home office space (Business use of Home) is, as defined above, exclusively used for business and/or the primary administrative duties of the business are performed in this space. For more information, IRS Publication 587.

  • We will need you to measure and provide your home office square footage used for the business. Please provide us with the approximate total square footage of your home and the space used for business.

  • Do you provide storage space for the business? If YES - please enter below.

  • Click on "Go to Next Page" to continue with your questionnaire. Need more Time? Click "Save for Later" only if you need to save your data and return later. If you do click Save for Later, you will receive an email with a link so you can return to it for completion.

  • Equipment and/or Personal Assets used in your business

    We want to make sure you have deducted all assets you use in your business.

  • EQUIPMENT AND/OR PERSONAL ASSETS USED BY YOUR BUSINESS

    • We are looking for equipment or personal assets that have been placed in service by your business but potentially not written off.
    • ONLY items NOT DEDUCTED on a prior tax return should be included in this listing.
    • Item listed needs to be used in your current business operations.
    • Please be sure to list any items used in your business or home office space that have NOT been deducted in a prior year on a tax return.

    WHAT EQUIPMENT? Items may include, but are not limited to: Computers, printers, scanners, telephones, cell phones, TV's, desks, office furniture, artwork, carpets, window treatments, and shop tools.

    TRADE TOOLS: Tools owned personally and used in business should be included on a separate listing. Please discuss with our firm if you have questions.

  • Business Auto Expenses: AUTO #1 - Primary Business Vehicle

    Tell us about the PRIMARY vehicle you are using in the business

  • AUTO #1 - PRIMARY BUSINESS VEHICLE

    Please provide the information listed below about your vehicle(s) used by your business. AUTO #1 is the PRIMARY VEHICLE used for the business. Please indicate if your auto is a lease or purchase.

  • Business Auto Expenses: AUTO #2 - Business Vehicle

    Tell us about the SECONDARY vehicle you are using in the business

  • AUTO #2 - PRIMARY BUSINESS VEHICLE

    Please provide the information listed below about your vehicle(s) used by your business. AUTO #2 is the SECONDARY VEHICLE used for the business. Please indicate if your auto is a lease or purchase.

  • Business Auto Expenses: AUTO #3 - Business Vehicle

    Tell us about the ALTERNATE vehicle you are using in the business

  • AUTO #3 - ALTERNATE BUSINESS VEHICLE

    Please provide the information listed below about your vehicle(s) used by your business. AUTO #3 is an ALTERNATE VEHICLE used for the business. Please indicate if your auto is a lease or purchase.

  • Intellectual Property - License/Royalty Fees

  • Please list any intellectual property owned by you personally - which your corporation uses in its course of business.

    Examples: Personal name as a corporation name, domain registrations, personal likeness or images, written materials used in marketing & sales.

  • You are almost DONE!  Review the two items below.

    1. SUBMIT YOUR ANSWERS:  Once complete, click "Submit Answers" to transmit your response to our office. Select "Save for Later" if you'd like to edit responses prior to submitting.  

    2. YOUR ANSWERS WILL BE REVIEWED:  We will review your submission to determine next steps.
     
    Thank you for your time in completing this form!

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