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View Full Version : How many exemptions are allowed on home based business. Is it up to 9 exemptions?


mxckthompson
Aug 21, 2008, 07:20 PM
Trying to get information on the number of exemptions can be claimed on a home based business.

Can a home based business claim 9 exemptions?

Fr_Chuck
Aug 21, 2008, 07:25 PM
First I am sorry, as to what you are actually asking,
A home based business is not one where you get a paycheck to have exemptions but would merely include that income as part of your normal income on your taxes and/or quarterly estimated.

Can you please explain in more detail what you are actually trying to do.

Clough
Aug 21, 2008, 11:23 PM
The laws concerning this will also vary depending on the type of home-based business that is being operated as well as where it is located, so it would help to know about those two things also.

Thanks!

ScottGem
Aug 22, 2008, 06:36 AM
I go with Chuck's answer. Claiming exemptions is something you do on a W4 that you submit to an employer who gives you a paycheck. Unless you are paying yourself a salary, then the question makes no sense.