Create tax-free income for family and friends

Do you travel on business?

If you do, you have a choice.

1. You can stay at a nice hotel and deduct the cost.

or…

2. You can stay with family or friends and pay them a “rental fee” (or “lodging fee”) for the privilege. You can then deduct that cost — and the money you pay them is theirs tax free!

You’ll learn all about this win/win strategy when you read my new article titled Tax Tips: Use Business Travel to Create Tax-Free Income for Friends and Family.

Three ways our fact-filled article can help you:

1. We’ll tell you the three rules you have to follow. If you want to make sure the “rental income” your friends or family receives remains tax-free, you have to know how to play the game. We’ll provide you with all the details when you read the full article.
2. You’ll get all the facts about the “lodging fee” deduction. Don’t worry. This valuable tax strategy is easy to understand as you’ll discover when you read the full article.
3. We’ll explain what to do with the 1099 form. If you pay mom and dad $600 or more in any calendar year, you have to give them a Form 1099. Your folks or friends should report the “rental income” from the 1099 on their Schedule E for the year and then make it tax-free. It’s easier than it sounds as you’ll learn when you read the full article.