06/03/2026
S-Corp owners should be aware that most states mandate a minimum of one shareholder board meeting per year. Board members can include family members and friends as business advisors, for example. Allowable expenses such as lodging, travel, and meals can be covered by the business and are tax deductible. You can also rent your home for a day to your business (up to 14x in a tax year). However, be sure to have meeting notes to document all discussions and outcomes that are associated with the meeting(s).
