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Level 2
December 7, 2019
Solved

Can expenses related to a business owner's vacation home be deductible business expenses for the portion used by the employees?

  • December 7, 2019
  • 4 replies
  • 31 views

The vacation home is owned by the sole stockholder of a Scorp.

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Best answer by Accountant-Man

I don't know the answer, but I vote no.

4 replies

Level 7
December 7, 2019
He lets employees stay in his 100% vacay home?  No other 'rental?'  Do employees get reported as taxable income for this fringe benefit?
CoatesAuthor
Level 2
December 7, 2019
No rents and has not reported on W-2 as this is the first year for this.
Level 7
December 7, 2019
I assume this is not a fringe benefit available to any employee, but just a select few top people.
Marlo:  I do not know the answer, but the brains out there will know
Accountant-Man
Level 13
December 7, 2019

I don't know the answer, but I vote no.

** I am "Elevating with Intention!"