JoeF and the experts:
Being a 50% passive investor (am currently on my H1B) in a C-CORP, can I have the company I am a passive investor use my Home address as the primary location for conducting business? There is only one another investor who is also the CEO (GC holder) and runs the business. But she conducts business for only approx. 10 hrs a week. We do not plan on increasing the volume anytime sooner.
Would listing my home as the primary address (aka company HeadQuarters) let me deduct that part of my home (1/3 of my basement) mortgage for personal tax filing. I plan on applying for my GC in the near future, would you recommend against claiming the "home business deduction". I do not participate in any way shape or form in the running of that C-Corp.
Thanks in advance for your time-
Being a 50% passive investor (am currently on my H1B) in a C-CORP, can I have the company I am a passive investor use my Home address as the primary location for conducting business? There is only one another investor who is also the CEO (GC holder) and runs the business. But she conducts business for only approx. 10 hrs a week. We do not plan on increasing the volume anytime sooner.
Would listing my home as the primary address (aka company HeadQuarters) let me deduct that part of my home (1/3 of my basement) mortgage for personal tax filing. I plan on applying for my GC in the near future, would you recommend against claiming the "home business deduction". I do not participate in any way shape or form in the running of that C-Corp.
Thanks in advance for your time-