The current tax law provides that a homeowner can rent their home out for less than 15 days per year tax free. This is a benefit that most tax accountants and most taxpayers do not know about or and don't take advantage of.
It should be noted that the taxpayer doing this cannot write off any expenses of doing this.
One strategy for a business owner is to rent their house out to their company for company events. You might have an office dinner, a retreat, a monthly meeting, or have a business guest spend the night while visiting your business. Your business could then pay rent to you. The business writes the rent expense off and you, the homeowner, gets to keep the funds tax free.
Another strategy is to rent your home out during sporting events or during a busy summer rental season. But you have to be in an area that has this need.
Be sure to check with your tax accountant!
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