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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Apr 29, 2019

In episode 151 of Financially Simple, Justin goes over the process of renting your Home for your Business.

Can you legally rent your own home, or other property, to your business and get a tax break in the process? Justin looks at what the IRS tax code says, and explains how to do it correctly.

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01:42 - Can I Really Rent My House to My Business?

02:42 - It’s Bristol, Baby!

03:52 - Business Rental

06:42 - The Business Nexus

08:05 - A Few Misunderstandings

08:07 - Deductions for Renting

09:35 - Deductions for Entertainment Facilities

10:15 - Can’t deduct Rental for a Related-Party

10:41 - Can’t Deduct Personal, Family, or Living Expenses

11:16 - Prove it’s an Ordinary and Necessary Business Expense

12:17 - The Substance Over Form Doctrine

12:57 - How to Do This Properly

14:52 - Wrap Up



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IRS Private Letter Ruling

US Tax Code 280A

Renting to an S Corp.

Case Study: Filming Commercials at Home

Home Business Meetings

CPA On Fire: Rent Your Home to Your Business


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The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States. Host Justin Goodbread is a serial entrepreneur, CFP (Certified Financial Planner), CEPA (Certified Exit Planning Advisor), CVGA (Certified Value Growth Advisor), Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional.