garage rental

UPDATED: Jun 2, 2009

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garage rental

I started my own business making furniture out of my garage. Can I charge rent and utilities to myself?

Asked on June 2, 2009 under Business Law, Indiana


J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

This question is one you would be most benefited by consulting a tax attorney who specializes in home business. There are many specific issues that need to be addressed such as who owns the home, how taxes are filed, if the business is incorporated etc.

Although you may be able to charge rent depending on certain specifics which you would need to review with an attorney you also can reap numerous tax benefits come time to file based on having a home office.

You should investigate both the option to pay rent as opposed to the tax benefits see if one is better than the other and if one or the other conflicts to ensure you are proceedings legally. Unfortunately without more information I cannot give a definite yes or no answer as to how best to proceed

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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