Last-minute tax hack involving renting homes for business purposes tax-free can save money.

From Yahoo Finance: 2025-04-06 09:02:00

Navigating IRS and filing taxes can be challenging for many Americans. Financial TikTokers are sharing strategies to save money on taxes, such as hosting work retreats at home. One influencer, Vivian Tu, explains how business owners can save money through this tactic. Tu cites the Augusta Rule, allowing homeowners to rent their homes for business purposes tax-free. However, tax experts emphasize the importance of following rules and documenting business activities to avoid penalties. While the Augusta Rule can save money, it’s not commonly used, and its ethical implementation requires careful consideration and organization. Stick to guidelines for a fair and legal tax strategy.



Read more at Yahoo Finance: This Last-Minute Tax Hack Can Save Business Owners Big Money