Full Time RV living as a S Corp/1099 employee
First post here so thanks for any and all opinions/comments! Long story short, I have the opportunity to sell my home and buy an RV to go travel full time while working in a virtual job. Timef...
Forum Discussion
While not a tax expert, I’m not understanding the advantage of a S Corp vs full time employee taking the same “business expense” deductions. Unless you can’t establish a “residency” for tax purposes and deductions for traveling away from your resident or tax state.
Therein may be the difference? Not legal to establish residency location if truly FT on the road.
That’s the one advantage I could see. Because business expenses for traveling for work , just the standard deductions, are quite liberal and pay well.
I’ve had several years where standard meal and room and board deductions resulted in a refund of a good chunk of federal tax paid in.
Therein may be the difference? Not legal to establish residency location if truly FT on the road.
That’s the one advantage I could see. Because business expenses for traveling for work , just the standard deductions, are quite liberal and pay well.
I’ve had several years where standard meal and room and board deductions resulted in a refund of a good chunk of federal tax paid in.
