HOME OFFICE LEASE

ARE YOU PLANNING ON DOING BUSINESS FROM YOUR HOME OR FROM A COMMERCIAL BUSINESS LOCATION?

Every business either operates out of the proprietor's home or leases space from someone else, thereby creating a tenant/landlord or lessee/lessor relationship.

There are tremendous tax benefits available to you for using your home as a place of business and a place to garage a company vehicle or store company books and records, inventory, tools, supplies, equipment and telephones, etc.

1) It provides a framework for converting non-deductible personal residence related expenses into tax deductions for your company.

2) It defines the exact monthly rental paid by the company to the shareholder for use of a portion of the home.

3) It documents the actual commencement date and length of the lease agreement and allows for automatic renewals of the lease agreement to avoid additional costs in the future.

4) Provides the company with a framework for valuable tax deductions of the rental amount paid to the shareholder which is a business expense.

5) It is a legally binding, written lease agreement between the Company and the shareholder for use of a portion of the shareholder's home. So it is a great way to save on your own personal and corporate income tax.

6) For example, the rent paid by the company to you will be personal income taxed to you. You will be able to offset that income with gas and electricity expenses, insurance premiums, maintenance and repair costs and council tax for the let property.

The Home Office Lease is only 99.95 (plus VAT) when ordered with your Company, and as an added bonus to our clients, we draft the Lease in such a manner that it is automatically renewable.