Well, there really is no such thing. But there are deductible expenses related to coworking* that you should consider.

Office

It doesn’t mater if you’re a full time resident or a Daily Desk drop in, every nickel of your coworking expense is deductible. Whether you call it “Rent” or “Office Expense” it can all come off the bottom line. I’ve had a home office for many years. I was often scared to deduct the expense of it because of “audit fear.” And the record-keeping for utilities, mortgage expense, etc. were a hassle. At a coworking space all of that is moot. You deduct one expense and the rest is included. And your clients don’t have to go through the dining room to get to your office. And the dining room doesn’t also double as the “conference room.”

Auto

Unless you’re a full or part time resident at space like C4 Workspace you should be able to deduct all of your driving expense to and from. You can use the mileage method or the all expense method by keeping receipts for everything car related. You never have to worry about “parking” since the parking free at C⁴ Workspace, either in the parking lot or on the street. The bummer on the mileage expense deduction is that it will go down next year from 55 cents in 2009 to 50 cents in 2010. Seems like an incentive to take public transit or ride a bike. Which are also deductible one way or another.

Meals and Entertainment

We’re luck y at C⁴ Workspace in that we have lots of great, cheap restaurants nearby (moderate and expensive ones too) to entertain clients or to talk about collaborating on a project. You can deduct 50% of the cost of a meal. (And have you tried the sandwiches next store at The Filling Station? You’ll never have a lunch meeting anywhere ever again!)

Legal and Professional Services

Part of coworking is discovering new resources and partners. If you hire or contract with another professional you meet at C⁴ Workspace you can deduct that expense.

Insurance

Like every business we have an insurance policy to cover the space or accidents. And that’s deductible. We also encourage anyone who works in the space to have their own insurance on the equipment they bring in. This is especially true for Residents who have a full time desk. They should have something like a renter’s insurance policy for their stuff. And that’s deductible. (And, coincidentally, we have a member, Joe Solis, who is a business insurance specialist. You just never know who you’ll meet when you cowork!)

Start-Up

C⁴ Workspace is a start-up business and we had lots of expenses to get the place open. Lord knows we’ll be deducting them! But, if you’re starting a business there are certain expenses that you can deduct to get started. They may include some of your operating expenses before you open your doors. But if start up capital is tight it doesn’t matter if you can deduct it or not. Coworking is perfect for a new business that needs a very affordable professional location. You pay rent for your desk and the infrastructure like a conference room, internet, utilities, even a printer, are thrown in. And you get an opportunity to meet contacts and do some targeted marketing for cheap. Such a deal!

* This is the time of year when you can play catch up on some deductible business expenses. In fact you can deduct an expense this year for a service you use in 2010. The basic rule is that you need to spend the money or write the check in 2009. So, if you need a workspace occasionally this would be a good time to pick up a 5 Pack of Daily Desk passes ($90). If you need a workspace on a regular basis then a Coworker Desk Plan ($150/month for unlimited business hours) might the right thing. And if one of your resolutions is to get a professional presence for your business then a Resident Desk Plan ($280/month for 24/7 access) might be the right step. And if you just want to get started coworking then an annual membership at $50 (including 2 Daily Desk passes) would be just the, uh, ticket.

Nothing in this article should be considering accounting advice. In fact, even as a advice you should take it with a grain of salt. You should definitily consult with an accountant or financial adviser whenever you try to negotiate the labyrinth we know as the “U.S. Tax Code.”

An oldey but goody from the Business Pundit blog.

Coworking vs. the Coffee Shop: Who Wins? | Business Pundit

Enjoy!

We dodged the blizzard conditions the folks in the northeast had for their last-shopping-weekend-before-Christmas. But, hey, we’re all busy right? So if you need something for the solo entrepreneur or digital nomad in your life here are a few ideas.

• Kensington Cable Lock; I’ve had one of these for a few years and it has given me the extra confidence to go to the bathroom at a coworking space or coffee shop without bringing my laptop along. (Eww.)
• 5 Day Daily Desk Pass: This is perfect top make a person’s New Year’s resolution come true. What better way to give someone’s business a jumpstart than by  connecting with others down at C4 Workspace. Makes a great stocking stuffer
• Noise Canceling Headphones: Who invented these? Can I send them a check? Whether you’re traveling, working at home (tunes out the kids AND the washing machine), coworking or coffee shopping these are a godsend. Go for the Bose for the Extra special person in your life or look for a nice pair of Sony’s.
• C4 Workspace Annual Membership: All year access to member rates and events at San Antonio’s first coworking space. It comes with 2 Daily Desk Passes and there’s a cool Member Card with discounts to restaurants, theatres and businesses in Southtown and beyond

‘Tis the season!

One of the cool things about coworking spaces is the variety of people that are attracted to working with others from different backgrounds. What happens is that you get a mashup of skills, talents and services that generates new ideas and opportunities.

C⁴ Workspace is just like that. Check out our new Member Skills and Talents page. If you’re looking for someone to help out with a project you’re likely to find them there. And if you find something missing that is a skill you have to offer it might give you some food for thought (“Why don’t I join?”).

So check out the page and then come down and rub elbows with these folks. You never know what will develop.

Members: If you see an error or omission on the list let us know and we’ll update it. If you don’t see yourself listed that means we just don’t know what you do. Tell  us and we’ll add you!

In our continued effort to provide information (and proselytize) about coworking we offer up this presentation from the folks at Carrboro Coworking in North Carolina.

Couldn’t have said it better myself.

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A coworking visa allows active members of one space, when traveling, to use another coworking space, gratis. Terms vary from space to space, with regard to hours of operation, reservation requirements, etc.

All C⁴ Workspace members can use up to 3 complimentary drop-in days at another space in the Coworking Visa program. For a complete listing go to the Coworking Visa main page.

Like the C⁴ Workspace community, the global coworking community is large and growing all the time. So before you travel check the list.

You can cowork anywhere. And sometimes you need to cowork “somewhere” near where you are right now. And that may not be San Antonio.

The good folk at Gangplank in Chandler, Arizona (near Phoenix) have come up with Wurkspaces, a directory of coworking space around the U.S. and internationally. There is an alphabetic listing of spaces but the handiest thing is the map view. They’ve mashed up Google maps with their diretcory to display locations around the world. Just click, click, click to find a nearby coworking space. Add this as a bookmark on your iPhone or other mobile browser.

This idea of a coworking location map has been discussed (and started) in the coworking community before but this is the first user friendly approach that I’ve seen.

Another idea that ahs been bandied about is the Coworking Visa. This is a program where members of one coworking space can access another coworking space at member rates. There’s more to come on that front.

With coworking, you can take it with you.

A short post with some good points about why coworking could be right for you.

• It creates accountability, which can help prevent procrastination.
• Coworking inspires creativity by giving you an opportunity to work in proximity to other like-minded professionals.
• It provides social benefits that are typically absent when working from home.
• It gives you the opportunity for professional networking while you work.
• Coworking can help you learn from others, collaborate and grow.
• It develops a community-like atmosphere where you can find support and encouragement.
• It fulfills the basic human need of working side-by-side with others, and can help you enjoy your work more.

In the 8 weeks I’ve been working full time in the space I’ve found one more: credibility. Because I have an “office” clients and prospects seem to take me more seriously. And I get to work with some great people. 

Some good comments on the post as well.