Discover how you can greatly minimize your taxes using nothing but your personal residence.
Use Your Personal Residence to Your Benefit
Did you know you can reduce your taxes using your personal residence?
Using your personal residence for business purposes is one of the best tax reduction strategies that people don’t even realize is available to them.
Here are some of the things you should be looking at if you have a home or personal residence.
Tax Reduction Strategies Using Your Personal Residence
Leveraging Section 280A
If you own a business and have money coming in from a third party that’s not W-2 related, that can be a deduction for you. Your business can rent out your home to host meetings for up to 14 days a year, and guess what? That money is tax-deductible for your business and tax-free for you.
Set Up an Accountable Plan
If you have a business, make sure you set up an accountable plan. By working from home a few days a week, you can start pulling more money out of your business completely tax-free.
Understanding these strategies is essential for any business owner to fully realize and utilize their potential tax savings.
Would you like to talk with someone about these strategies? To learn more about the power of these Tax Strategies using your personal residence, you can schedule a complimentary 45-minute Strategy Session (Valued at $750) with a seasoned Anderson Advisor and get your free blueprint for success.
Free Strategy Session with an Anderson Advisor
To learn more about a decanting clause and other essential provisions when setting up your LLC, schedule a free 45-minute Strategy Session. You’ll discover how to ensure your assets and property are protected.
