Sure. If your board is made up of just you and your spouse, you can hold your next board meeting at the office or even in the kitchen. But why?
As my new article explains, if you’re running a husband-and-wife-only S corporation, you can mix business with pleasure.
The secret? Schedule high-level meetings during an out-of-town trip at a lovely resort. Even if you spend some of the time having fun, most of the costs of your stay can be deducted.
Want to find out how to combine work and play and get a nice write-off? Read my new article titled Tax Tips: Four Steps to Turn a Husband-and-Wife-Only Board Meeting into a Money-Saving, Tax-Deductible Resort Stay!
Three ways our fact-filled article can help you:
- We’ll explain the IRS’s “ordinary and necessary” and “appropriate and helpful” rules. You can be sure that Uncle Sam wants his money. That’s why when a business is small and closely held, the IRS will take a careful look at your out-of-town board meeting deductions. We’ll show you how to meet their requirements and come out a winner when you read the full article.
- You’ll learn how much time you need to spend on business issues. All of your travel costs to and from the resort should be deductible if you spend a certain percentage of your time working directly on company business. We’ll give you all the facts when you read the full article.
- We’ll tell you how far out of town you need to go. You’ll get all the information you need to know, plus you’ll learn just how lavish the resort you choose should be. (It’s important!) All the details are waiting for you when you read the full article.