Minute Menu Expenses - Mortage??

[misol]

So does this mean you pretty much deduct your mortgage interest twice? since we deduct the mortgage interest on our regular part of our taxes, then we can deduct it again, with the T/S%?

You deduct the amount allowed by your t/s % for your home business and then the remainder gets deducted on the regular part. Depending on the tax software you are using it will enter the remaineder for you automatically.

[Unregistered]

Ok, so here is a twist to that. I have a rent to own lease. Technically I rent but a portion of my rent goes to the purchase of the home. If I don't buy the home the portion is considered rent money. How does that work for TS? I have been including the entire payment under rent.

[sdaleiden]

Minute Menu Thread

Hi All:

I am a representative from Minute Menu, Samantha. Please call me Sam! I am happy to see you were considering making a Minute Menu thread for questions and comments because it means what we were developing is really of importance to you!

In late October, early November, we are launching a forum in which you can talk about Minute Menu, share each other's expertise and find some help with your questions from our team members!

Until then, please feel free to join our group on Linked In and direct your questions and Minute Menu threads there:

http://www.linkedin.com/groupRegistration?gid=3283178&sharedKey=7B23E41306ED

Looking forward to hearing from you!

Sam
childcareinfo@minutemenu.com

[TomCopeland]

Rent?

When you rent to own, count everything you pay as rent, until you actually are purchasing the home. Once you buy your home you can start depreciating it and claiming mortgage interest as well.

[misol]

Hi All:

I am a representative from Minute Menu, Samantha. Please call me Sam! I am happy to see you were considering making a Minute Menu thread for questions and comments because it means what we were developing is really of importance to you!

In late October, early November, we are launching a forum in which you can talk about Minute Menu, share each other's expertise and find some help with your questions from our team members!

Until then, please feel free to join our group on Linked In and direct your questions and Minute Menu threads there:

http://www.linkedin.com/groupRegistration?gid=3283178&sharedKey=7B23E41306ED

Looking forward to hearing from you!

Sam
childcareinfo@minutemenu.com

Sam, where have you been all my life?:: Thanks for joining the board and we look forward to learning a lot from you.