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Re: It's Tee-AX Time!
Quote:
Originally Posted by Halon
I'm sure he is much more of an expert than I will ever be. You should maybe ask him about that though. If you claim a home office in your house, and use it as a write off, you should ask him how that affects the value of your house, and what sort of consequences there are when the time comes to sell your home. I think you may run into some additional capital gains taxes if you sell the home (which now includes a depreciated home office) for a profit. This is why I have never dived into the home office write-offs. I "could" write some stuff off, but the way I understand it is if it's all done legally, it's not just as simple as getting to write off some additional stuff. And I personally don't know enough about it all to consider it worth-it for me to even try.
Anyhow, not trying to second guess you. But just hopefully you understand all of this, and you may get a slightly nicer return now, but in the future there may be consequences when you ever decide to sell your home as the value of that office has now depreciated, and additional taxes may come into play on any gains you've now made when you sell it.
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I can ask, but honestly, i really could care less as to what it does to my house... because i rent it. 
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Scientific theories are the most reliable, rigorous, and comprehensive form of scientific knowledge. This is significantly different from the common usage of the word "theory", which implies that something is a conjecture, hypothesis, or guess.
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