Will the alligator head be in the aquarium tank? I must know this to look up the appropriate tax code.
Haveing worked out of my home previously, your best bet is to maximize the square footage as it is documentable. I would not itemize decorations. If you want a aquarium, buy one. Don’t try to expense it. Keep your expenses to the necessities required to have the space function. Nothing more.
The more crap you put in there the more you invite an audit.
I wouldn’t use it. Use the square footage % of the house, business use of computer/printer/supplies. Percentage of utilities, taxes, etc.
Unless you are seeing patients in your home office where an aquarium would have a calming effect and is only worthwhile to your business.
I need to add, I’m not a tax attorney, just use a home office deduction for myself and for my son’s business at his house. I am VERY careful on what I deduct and always error on the side of caution.
For my Wife’s home office we have furniture, a desk and file cabinets as scheduled depreciating assets.
The computer(s) are scheduled slightly differently (though I cannot remember the difference).
I can see an aquarium as a deduction if you have clients over on occasion.
We have artwork in our home but have never deducted any of it as we have purchased it personally.
I do remember that you can get a $12.00 deduction for donated underwear if your name is Bill Clinton, though.
It depends on your party affiliation. If you are a Democrat, you can itemize dustbunnies, crayons and gaming equipment. Since you are posting here, you probably cannot itemize alligator heads and fishies. Only Dems can itemize fishy things.
You can put anything in your home office you want since it can be any room in your house. DO NOT start claiming anything except sq footage of the room.
Would those be deductible expenses if you rented an office? I think the answer is yes. If you are deducting a percentage of rent/mortgage, utilities of your home based on square footage, why not do the same with the aquarium? It would be easy to justify especially if you ever have clients gone to your home for business.
Why don’t you just contact the IRS and ask them?
Deducting an aquarium shouldn’t be a problem. It’s no different than taking a deduction for an oriental rug or a desk or installing a picture window in your office. Keep the receipts - that’s the key for all home office deductions.
Good luck in your business venture.
The home office deduction is a trip wire for the IRS.
I would tread lightly.
My home office is a room along the back of my garage. It is about 1/15th of the square feet in my house. One year I made an error on my return, correcting it the next year. Boom! Full blown audit.
The auditor was a nice guy and my books were in order and it all worked out. But it was about 100 hours of pain in the ass.
If your fish tank is worth that...give it a shot.
The office has to be exclusively for business. Having an aquarium could invite an argument that it is used personally and then could lose entire deduction.
I had an aquarium with a rare Japanese fighting fish but there was in incident involving a priceless Samurai pen and, well, I had to write both off. It’s all on tape:
https://www.youtube.com/watch?v=Qbcqg_70i-w
KISS. Keep It Simple, Silly! - EVERYTHING is a dust catcher
eventually. Husband turned a teeny tiny room into an office;
and an alligator head would take up the whole room. How
about a goldfish bowl instead of an aquarium. Those things
get to where they’re a pip to clean! SIL finally gave up on
hers when it came to the place where it was taking over her
life. I think she once accidentally (she claims) poured the
fish down into the garbage disposal.
I appreciate all the help. To clarify I do not wish or seek to deduct any related expense to the aquarium, just have it in my home office. I wouldn’t even think of using the tank as an expense. My question is on the exclusive use. I want one but I’m not sure if its ok.