Hi Mark
I’m a big fan of your podcast!
My wife does a lot of home renovations to our primary home, and spends about 15-20k annually on materials, tools, etc. She does not do any work outside of our home and we don’t plan on selling the home anytime soon. The remodels and associated costs are well-documented.
Would it be possible for her to form an LLC or S-corp and charge me as homeowner a market rate for the remodeling and repairs? Would that allow her to at least write off the incurred expenses within the s-corp? Is there another strategy we should consider?
Thanks so much!!