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12-24-2024, 12:22 PM #1
Reputation points: 309440
- Join Date
- Feb 2017
- Posts
- 3,757
Augusta Rule
For all of the non-home-based companies out there, I wanted to share something that I literally just heard about as an EOY tax offset. If you home is not your primary place of business, you can legally rent out your home to your own business (or anyone else for that matter) at comparable going rates for your home for up to 14 days and NOT report it on your personal income. Host a business meeting once/month, keep the minutes of the meeting (for internal reasons, to make sure that if you get audited, it's accounted for), and you just shifted money away from your business to your pocket and made it tax free.
If you benefit from this, send me an email or DM!
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