Tax Deductions

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Renting Your Home Tax Strategy

Vector image illustration of hands holding a cottage home filled with dollar coins representing a home rented as a business to qualify for tax deductions

Do you conduct meetings with your managers or employees at home? The IRS allows a business owner to rent their primary home or vacation home to their business for up to 14 non-consecutive days each year.

What are the requirements to deduct the rental of my home?

The residence can be located anywhere in the United States, and the income is excluded from taxable income for the residence owner/business owner.

Depending on the market value of your home, you can deduct anywhere between 4,200 to 14,000 dollars in total for the year.

Don’t overindulge with this deduction. For example, don’t try to deduct $20,000 per year with a modest 1,500 square foot home.

The IRS can be critical of this deduction if not appropriately used. We can help you determine the appropriate amount of deduction:

Do you know how much you will overpay in taxes to the IRS this 2021?

We can run the numbers of your business for free and show you where the tax savings are hiding within.

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