Will be having our own LLCs annual meeting in Florida in a rented home. Of course I'd like to deduct what is deductible. Any expertise advice on what to do and what is & is not allowed, is appreciated. We are driving down.

Excellent question - you are asking if the IRS will allow you deduct cost of the annual meeting and the answer is absolutely.

But your plans will force the question - why do you have to have this meeting in Florida instead of located 10 minutes from your house?

One of the courses I picked up over a doze n years ago recommends not an annual meeting but a monthly meeting instead. What does a hall typically charge for hall rental? around here its $75-125 a day. You are allowed to get income up to 14 days on one of YOUR own rentals before you have to claim it on a schedule E. If you are doing a monthly meeting that would mean you have 12 days of expenses that you could charge off while gaining 12 days of income.

That said, the creator of this course - AA was his initials, has long since has passed on. So this might give you an idea of how much wiggle room the IRS does offer according to an experienced, expired CPA. You need to come up with your own answer on how much you want to push on any standard.

Lucy,

Great question!

Jeffrey might have an answer based on his experience with vacation spot conferences.

My $500 per hour tax atty had 2 comments:

1. Pigs grow, hogs get slaughtered. Don't be hoggy. Don't poke the bear with something outlandish.

2. Legit deductions are based on time spent on business. Cannot write off airfair and 4 days of hotel/meal/car rental for a 30 minute partners meeting.

Me? You might call it a Corporate Retreat/Five Year Planning Session...

Have me Zoom in for a Training Session to count another day:)