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.I am going to take a loan for opening a new branch in saratoga. but I have a good handle on the regular business expenses.I really just need help with the travel expenses (hotel and meals) and the duplicate personal expenses I will incur (rent, utilities, renter's insurance) as a result of running the business in two locations. I have a plan to appoint employees for my business in Sarasota.
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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