Question by Agent Mime2: Use of home space for business in Quickbooks 08?
We have a home-based business, and need accounting software, but need to know if Quickbooks 2008 will give us an opportunity to account for use of home space for a business for tax purposes?
Answer by Club_qui_gon
I would first check the regulations for running a home businesss, specifically what you need to do to qualify to have your business pay you rent, which is probably what your getting at. In alabama you have to have an exterior door attached to your ‘office’ or you cannot pay yourself rent. But quickbooks would allow you to track that for tax purposes, I’m not sure what the tax code/bracket is but when you’re setting up your expense account you can assign a tax code to it.
What do you think? Answer below!