Business Owners, listen up! #shorts

Business Owners, listen up! Did you know you can write off part of your mortgage?
It’s called the ‘Augusta Rule’! 📜 Here’s how it works:
If you own your home, you can actually rent it out to your business. 🏠 By renting out your primary residence or vacation home to your business, the money you earn from that lease is tax-free. 😱
This means you can write off your mortgage payments as a business expense, saving you money and reducing your taxable income. 💰

Augusta rule can be used by S-corps, C-corps or partnerships. If you operate your business under your SSN, you do not qualify for it!

How to do it the right way: 
- You must have a written rental agreement
- Thorough documentation supporting the rental price. It should be within the fair market value
- It must be an ordinary and necessary expense for your business. You should document your business meetings, and business activity you are using your home for. 

I have a client who is a meditation instructor and he hosts an annual meditation camp for his clients at his vacation home on Lake Tahoe. If he did not have that vacation home, he would have to rent out a different place to host this retreat in the course of his regular business anyways. In this case he is renting out his own house and tax income is tax free to him personally while tax deductible to the business. 
It’s a legal and smart way to keep more of your hard-earned cash.
Looking to save money on taxes the right way?