Tax Tip #181

With Super Bowl LVIII upon us, it’s time to have a little fun mixing taxes and sports. Going on 55 years since my team guaranteed a Super Bowl victory, I am here to guarantee how you can pocket big time money from the Super Bowl and not pay tax. This year’s Super Bowl is being played in Las Vegas. For those who own a home near the stadium, renting it out can earn big time money. It was reported that Rihanna spent $500k to rent a person’s home at last year’s Super Bowl in Arizona. The IRS has a rule that if a taxpayer rents their home for 14 days or less per year, the money received is not subject to tax. 

For those who live near MetLife stadium in East Rutherford, NJ, the NFL chose this location to host the Super Bowl as many times as my NY Jets have won the Super Bowl — once — back in 2014. The odds of the NFL granting another Super Bowl to MetLife stadium is approximately the same as getting to see my team win the Super Bowl in my lifetime.