In the second half of 2010, I formed an S Corp. to use as a loan-out company for my son who is an actor. Between Oct. of 2010 and Dec. of 2011, he made over $400k working on a show. The show was filmed in another state so our family relocated during this time. Can any of our expenses during our time there be written off? We were there for business purposes and had to rent an apartment, pay utilities, etc.
Also, what exactly does it mean when you are able to "write" things off?