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Terrific Tax Deduction

Posted by Denise Evans on

I learned this trick at a webinar I attended.  If you have an LLC, then your LLC should rent your home for all-day business meetings or "planning retreats," once a month.  As long as  your home is rented 14 days a year or fewer, then you have no taxable income. On the other hand, the LLC has a deductible expense. What a great way to reduce your taxable income!

FYI, Hotel meeting rooms generally rent for $150 to $500 per day, depending on amenities, location, and catering.

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  • That is some really cool info Denise. Thanks!

    Gary Bivins on

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