Question
Here is my situation.I currently own a heating and cooling business here in Indianapolis.I'm thinking about opening one in Sarasota, Florida.My plan is to work
Here is my situation.I currently own a heating and cooling business here in Indianapolis.I'm thinking about opening one in Sarasota, Florida.My plan is to work in both places.My wife and I currently rent a condominium here in Indy and we plan on renting one in Sarasota.I rent a small office for my Indianapolis location.However, I will initially run the Sarasota business from the condo.I'm not sure I would call it an "office" though.I have a good handle on the regular business expenses.I really just need help with travel expenses (hotel and meals) and duplicate personal expenses. I will incur (rent, utilities, renter's insurance) as a result of running the business in two locations. I have planning to appoint employees for my business in Sarasota.
Of course, I would be in Florida when the weather is bad here.We will live in each location for 6 months. We will be in Sarasota from October through March and in Indianapolis from April through September.We will not sublet either condo.
question: What will I be able to write off if I live and work in both places?I would like to deduct all of the costs (rent, transportation to and from, meals, etc.).
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