Tax Question

[dgraves]

i run a paysite and make all my own content, most of which i film in my house...

1) can i write of large portion of my mortgage off claiming my house as a studio?

thanks!

[amateurcanada]

i dont see why not.. there are many tax advantages to running a home based business. consult an accountant or see what you can do in your state

[HDADULT]

I believe the answer is more like only the portion of your home dedicated to your company. Would be a percentage the total.

[dgraves]

ok...thanks. i want to write off as much as i can without raising any red flags.

[Kevin - The PNN]

No - you cannot write off the morgage. You can write off your proratta share of the house. This way, you can write off some of the morgage, all utilities (Gae, Elect, water, sewer), property tax, improments to your house, landscaping, phones, internet, and many other things.

I have a MBA in finance and qualify for the CPA exam. Hit me up on ICQ if you need further info.

[JasonB]

Getting tax or legal advice from gfy = bad news.
Get a good accountant

[HerPimp]

get a tax attorney