Hello!
I have two small, personally held s-corps. I am the owner and the sole employee. And I work out of the house.
Before filing for s-corp, I was able to deduct a portion of household expenses (utilities, etc) as self-employed. Since I'm passing income via K-1 and I'm not planning to itemize my personal filing, I'm now scrambling to find a way to pass that deduction (home office) along.
I didn't think to charge myself rent, nor to reimburse myself monthly for those expenses.
Any thoughts or suggestions you might have would be *greatly* appreciated!
Thanks,
Fez