How fo you determine cell phone expense taxdeduction for home business?
September 8, 2009 by workathomebizreviews
Filed under Home Business FAQ
preichwein asked:
It is used for both personal and home, although the cell number is the only business line used. I am itemizing deductions as well.
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It is used for both personal and home, although the cell number is the only business line used. I am itemizing deductions as well.
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claim it all. it is a business tool that is occasionally used for personaly use. perfectly reasonable for a company to have a phone – which is the test.
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You must prorate the time used for business and time used for personal usage. If it is 50/50 then deduct 1/2 on your Sch C.
Added
These cell phone deductions are coming back to bite people in audits right now.
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Theoretically, you should prorate personal and business use, but practically, it is a business phone and the entire cost should apply to the business. Virtually every business phone anywhere in the world is sometimes used for personal purposes. the business needs the phone and it incurs the entire expense. So do as Patrick suggests.