Can I take tax decutions for Florida condo meetings as an elected board member ?

Question

As an elected board member residing in Michigan, I need to attend board meetings 4 times a year. I can do so by conference call, but I need to attend in person at least twice, to be effective. Do my travel expense qualify as deductions?

Answer 1

Assuming that you are paid for your service as a board member, you can deduct the travel costs to the extent of any income received. If you are not paid for your service on the board then you cannot deduct any expenses as the purpose is not the generation of income.

Being on a condo board isn't the same as being on the Board of Directors of a corporation. Corps usually pay a stipend for unpaid board members to attend board meetings. The stipend is generally intended to defray the costs of attending the meetings. The stipend is taxable as ordinary income and the costs of travel to attend meetings can be deducted against that income.

Answer 2

Are you paid for being a board member? If not, then no you can't deduct the expenses. If the position is paid, you might be able to.

Answer 3

If you get paid for this job, then you can deduct as employee business expenses on schedule A (Form 1040) (itemized deduction) subject to 2% AGI limit.

Answer 4

No, because the travel is not for the production of taxable income.