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Primary residence as an office for S-Corp
Hi there -
I have a few questions about using my primary residence as an office for my S-corporation and want to be sure we set things up correctly.
- For daily regular use, would you recommend a formal lease (Schedule E) where the S-Corp pays me rent, or an accountable plan where the S-Corp reimburses me for home-office expenses (not reported as income)?
- In this case, are we still eligible for the “Augusta rule” (IRC §280A(g)) for short-term rentals (< 14 days) assuming I'm renting another room and not double dipping?
- How should I document a defensible monthly rent or fair market value? Are there any reference websites accepted by the IRS?
Thank you!
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Primary residence as an office for S-Corp
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