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Business Travel Tip: Stay at the Mom and Dad Hotel

Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo How does this sound to you? A Tax Deduction For You Tax-Free Income for Mom and Dad It doesn’t have to be Mom and Dad... The tax-free income can go to your Brother or Sister, or your Best Friend. To make this work, you need to have a business reason to travel and stay overnight at the "Mom and Dad Hotel". Say you travel to a convention, rent your parents’ guest room for five days, and pay them a fair rent of $1,000. You deduct the $1,000 as a business travel expense. Your parents have $1,000 of tax-free ...