Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Colin Cody who wrote (993)	4/12/1998 12:38:00 AM
From: Daphne	Read Replies (1) of 5810

Colin so far ao good this year up 70,000. Back to my first question about the section 179 expense I did want it answered as an investor with 99.99% usage of the assets for production of investment income. I dont think I will file the home office this year as it will only bring a liitle over $100 in tax reduction (only had rent expense for last 3 mnths of yr). But will take hm off next year on the trader sch c. Which prompts this question. Our Office is 12% of the square footage of the apartment but we know that the engery usage of this room is more than 12 % it is more like 50% of our utility bill( have 3 computers running all the time) Can we take more than 12% of the Electric for a deduction if so how should we back it up. What is your opinion of the comment in ted tesser book that if you extend your return to oct 15th you have less of a chance of being audited pg 164.

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