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    mxckthompson's Avatar
    mxckthompson Posts: 1, Reputation: 1
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    #1

    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's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    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's Avatar
    Clough Posts: 26,677, Reputation: 1649
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    #3

    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    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.
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