Tuesday, September 21, 2010

Can an S-Corporation Pay Rent & Utilities of Sole Owner?

I wanted to know if this is possible. 40-50% of my place is used for business. Since all of my income flows thru my business bank account, it (to me) makes sense to pay my rent and utilities which can be deducted out of my biz account. I take a draw for any personal expenses (movie rentals, personal groceries, health/hygiene, etc). I'm the sole owner so all passes thru to me anyway. Am I on the right track here?