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Old 06-24-2009, 06:30 PM
 
1 posts, read 2,724 times
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I am currently looking to cut down on costly office expenses and I know I can run my office from my home. Is it legal in Indiana? The laws are very vague. Our clients rarely come to our office; we are currently in an office park with virtually no visibility. I think a home office would be the smartest move for us. We can always use our bank for a conferance room if we had to.
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Old 06-24-2009, 08:32 PM
 
Location: Elkhart, IN
311 posts, read 915,857 times
Reputation: 269
Quote:
Originally Posted by Caddie1187 View Post
I think a home office would be the smartest move for us. We can always use our bank for a conferance room if we had to.

I think you really need to have your brokers license before you can "hang" your shingle out so to speak at home exclusively. All sales agents in Indiana must have their licenses "supervised" or over seen by a broker, but if you really want to know, go to the Indiana Real Estate Commission website and find out there.
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Old 06-24-2009, 08:44 PM
 
512 posts, read 861,793 times
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I'll second what what Jodyrose said. Best of luck, and let us know when you find out.
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Old 06-25-2009, 06:58 AM
 
Location: In a happy place
3,969 posts, read 8,501,739 times
Reputation: 7936
Be sure to check also to see if there are any restrictions (deed, HOA, zoning, etc.) that would prevent you from running a business from your home.
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Old 07-02-2009, 09:32 AM
 
91 posts, read 316,324 times
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Caddie1187,
Also, you will want to be sure that you do not throw up any red flags when you do your taxes. Because you will have to depreciate some of your home's value based on square feet that you use for business. First of all, I would consult a tax advisor.

Good Luck,
JulieL
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Old 07-02-2009, 03:04 PM
 
Location: Bloomington IN
8,590 posts, read 12,344,993 times
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^^^Julie, She does not HAVE to depreciate her home's value on her taxes. Not taking a deduction one is entitled to is a personal choice that is permitted. My spouse has run a business from our home for nearly 20 years in two different states. Although he has a separate room he uses as an office so it would be fairly straight forward to figure out the home depreciation, we've never claimed it. We made that decision years ago, based upon the advice of our accountant, when the IRS used home based business depreciation as one of things that they looked for in determining audits. Supposedly that is no longer one of the criteria.

As someone hinted at, you need to contact your city/town/county to determine if you can have clients coming to your home.
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Old 07-03-2009, 10:23 PM
 
Location: southeast Wisconsin
163 posts, read 418,635 times
Reputation: 99
I have been working from home and filling out and paying taxes for nearly seven years. A few years ago we had an insurance agent who ran his business out of his home. His living room was his office, complete with desk, files, etc. You would never know that it wasn't just an office and clients came there. I think finding out if there are zoning laws that would restrict that as mentioned would be the thing to do.
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Old 07-06-2009, 09:20 PM
 
91 posts, read 316,324 times
Reputation: 30
I was just told by my accountant not to deduct the use of my home on taxes. She said it would throw up red flags for an audit.
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Old 07-06-2009, 10:59 PM
 
Location: southeast Wisconsin
163 posts, read 418,635 times
Reputation: 99
Quote:
Originally Posted by JulieL View Post
I was just told by my accountant not to deduct the use of my home on taxes. She said it would throw up red flags for an audit.
It could but I have never been audited.
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