If you operate your business as an S or C corporation, I’ve got some good news for you…
Thanks to a little-known section of the tax code, you can rent your home to your corporation for business meetings, staff retreats, your summer employee picnic, etc. and receive that hefty rental income tax-free!
That’s right. IRC Section 280A allows you to rent all or part of your home to your S Corporation for 14 days or less during the year and then claim big tax deductions.
Want to find out how you can take advantage of this under-used section of the tax code? Read my new article titled Tax Tips: Tax-Free Rental of Home to S Corporation.
Three ways our fact-filled article can help you:
- We’ll tell you why IRC Section 280A can save you a lot of money. Let’s say you charge your S corporation $1,500 per day for two weeks of approved usage. That adds up to a $21,000 tax deduction for your corporation! You’ll get the whole story when you read the full article.
- We’ll explain the ins and outs of the free-rent rule. For example, you’ll learn that IRC Section 280A stipulates that no personal-residence deductions are allowed against that rental income and that the income does not count as taxable income to you. Get all the facts when you read the full article.
- We’ll show you how to overcome the seven obstacles the IRS puts in your way. The IRS never makes anything easy, and if you want to take advantage of IRC Section 280A, you have to know what you’re doing. But it really isn’t all that hard (really!) as you’ll learn when you read the full article.