Jim99
Level 2
06-25-2024
12:21 PM
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I have a new client that is a sole proprietor who sells art. She works out of a stand-alone studio on the family property owned by her and her husband. They put $30K into renovating it to suit her needs. The studio is not currently considered an asset of the business, and the family takes a home office deduction on their tax return. They would like to be able to include the renovation expense as part of the business, and I'm wondering what would be the best way to handle this.
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