- Original Poster
- #1
If you were single, life was simple and owned your home outright which you were never planning on selling so designated a room for office use only for a few years because it made sense to do so, because, for example you were having a lot of work done on the house like electrical rewires and the portion of the costs that can be allocated to the office was significant.....
Fast forward a few years and your office is now partially used for storage as you have someone living with you and a kid on the way. How easy is it to flip back to the other system of tax where the room is not 100% used for business? Circumstances change!
Also - if we were to move and rent out this house if we went back to the system of not using the room for 100% business for say 5 years would that free us of the burden of having exclusively declaired it as office space in the past?
Fast forward a few years and your office is now partially used for storage as you have someone living with you and a kid on the way. How easy is it to flip back to the other system of tax where the room is not 100% used for business? Circumstances change!
Also - if we were to move and rent out this house if we went back to the system of not using the room for 100% business for say 5 years would that free us of the burden of having exclusively declaired it as office space in the past?
