Soldier to Soldier Hawaii

Maximize Tax Benefits by Renting Out Your Home (From YOUR Business) | Growth Call Moments

this whole conversation Brett is how everyone 
on this call can save money on their taxes so   my advice to everybody is grab a pen Brett you're 
going to teach us how to do it I am going to go as   hard as I can in five your taxes we're gonna do in 
five or ish minutes cool I'm gonna come just fire   it away Jason go go go everyone in here likely 
lives in a home probably that you own right the   Augusta rule in section 280a 280 a of the IRS 
tax code basically what it means Jason you the   human being you could rent your home from your 
business so you've got a business called Jason's   baller Enterprises LLC you the human are going to 
send an invoice to Jason's baller Enterprise LLC   up to 14 days per year cannot be more than 14. 
this is your primary residence the way to do it   make it compliant we're going to go to a local 
hotel we're gonna find out what the cost is for   a one-day event food and Bev AV you rent a room 
and depending on your city we're going to call   that three thousand dollars okay per day meetings 
that you're already having Jason out there maybe   at your Market Center you're having meetings 
at a hotel already you'd have that meeting at   your house you're gonna document it's gonna put in 
your calendar you're really going to have business   meetings we're not making stuff up to get a 
tax rate their meetings we're already doing   so at the end of the year you can sign a lease as 
well three thousand dollars times fourteen I can   do some quick math here uh three thousand dollars 
times fourteen that's what you could write off 42   000 would be the write-offs you're in the we'll 
just do assume your state and federal tax brackets   40 percent there's some pretty good savings there 
if you have a second home that you do not run out   so the minute you rent it one day this doesn't 
count but I've got a cab and a second home that   I have business meetings a lot of them at I could 
do another 14 days for that that's a no-brainer   someone just put in the chat someone said that's 
where my next ALC meeting is going to be oh my   gosh oh yeah of course this call is the best 
Call of the year because of that 30 seconds

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