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Can i (as a sole pro) write off expenses for both a home based business portion and an office (by having a service at regus) at the same time?
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Self-employed
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Self-employed
From what you've described, your home is your headquarters which means it qualifies as your "principal place of business". You can claim business-use-of-home expenses (home office).
If the other "location" isn't used to meet clients, etc. it sounds more like a cost of doing business rather than an office space. The fees you have related to the mail address service would be deductible. You can opt for the Management and Administration Fees category (along with your bank fees, etc.) or simply list the cost as Other Expenses.
* If you opt to use the Other Expenses category, be sure to use the spot in the Business Expenses section, not the Business-Use-of Home "other" spot. Otherwise, the expense will be pro-rated and you want to deduct it fully.
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Self-employed
What type of plan/product of Turbotax would you recommend?
My situation is: a new sole proprietorship for consulting business, one as a employee with T4, and a freelancer (paid by cheque when there's a case).
Since I have no idea how to claim expenses for each of jobs, the Start up cost for my consulting business (including fees such as tuition, registration, etc), care mileage for each activities, tax rate etc (considering to change the structure of my consulting business to Inc later). I am looking for a Turbotax program that can provide me with all the related questions and not sure there is any. So what would be the best product of Turbotax for me?
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Self-employed
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