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Thread: NYC condo hotel as 2nd office = big tax deduction???
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Old Aug 28, 2016, 8:27 pm
  #28  
Concorde01
 
Join Date: Jun 2007
Posts: 63
Originally Posted by TravelPhotographer
As full time freelance travel shooter
I already have home office / residence / FL

Am anticipating a lot of NYC visits next 10 yrs
to shoot a lot of stock photography...

Normally it would involve hotels (100% deductible)
& travel meals (50% deductible)...

Am contemplating investing in NYC hotel condo
& staying ~5 mos annually, leasing ~7 mos.
(NYC resident taxes triggered at 6 mos 1 day)

Is anyone doing this or similar?
Can I claim entire apt. as 2nd office if entire
time there is spent working (+ sleeping)
(like 100% deductible hotel room)
or is it a 2nd home office that must be divided
into work area & non-work area?

Of course, will call IRS to ask questions
more than once, more than one agent, to make
sure I'm getting same answers per same questions.

But if anyone has expertise-experience, responses appreciated!!!
:-:@:-)^:-:@:-)^:-:@:-)^
If you do end up buying a condo or coop in NYC, be sure you take advantage of a buyer's agent commission rebate when making the purchase. In short, you can get paid 1% of the purchase price of your condo/coop back in cash.

Sadly I didn't know about this when I bought my condo in FiDi. I essentially lost out on $20k and have regretted it ever since...

Feel free to google the topic but this page has a pretty good overview of how it works: http://hauseitreviews.com/buyer-agen...on-rebate-nyc/
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