Tax-Free Rental of Home to Your Corporation
February 4th, 2014 at 5:31 PM
How would like to get a tax deduction for your C or S Corporation, and NOT have to include the income on your personal tax return?
Here’s a legal tax strategy to accomplish just that.
Under IRC Section 280A you can rent your entire home to your Corporation for 14 days or less during the year and obtain substantial tax deductions.
This seems almost too good to be true.
There are 7 potential pitfalls to the tax reduction strategy that could spell trouble if your are audited.
If you are a current client, please contact me to navigate you through this strategy the could be amount to a $21,000 tax deduction this year!