Writing sour rent on home-based business? I wish to start a home base business that will entail me

I wish to start a home base business that will entail me using a portion of my apartment as an office/studio. If I enjoy a one-bedroom apartment, can I still write off a percentage of my rent, even though I do not own a dedicated room used solely for business? Or do I inevitability to live and sleep in the living room, and set my bedroom aside as a work space? I live surrounded by Vancouver, BC, if it makes a difference.

Oh my word you spammers! The OP already has a business.

Anyway, the excise laws should be similar to the US. You can subtract the percentage of your office against your total sq footage of your home. Mine is 2500sqft, and my home bureau is about 6% of that, so I can take off that.

Yes, you are supposed to reserve your office for 100% business singular.

-Angel

I know nil about Canadian toll law. Here contained by the USA, the regulations regarding deduction for home offices require that the space involved is used simply for the business. If you store personal things in the room, or sleep at hand, then you cannot use it as a cause for your deduction.

Returns next to home-office deductions are audited more frequently that returns minus. I have a spare bedroom near a desk and no bed in it that I use for an bureau. I don't bother with the speculation, because it's more trouble than it's worth.

Answers: http://www.cra-arc.gc.ca/E/pub/tp/it514/...
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