lower your tax bill
The Augusta Rule allows business owners to rent their property for up to 14 days a year without reporting the income. But taking advantage of it requires some guidance.
That's where we come in!
Not your home office deduction
Augusta makes it simple to gather everything you need to file using the Augusta rule. Each month, we'll walk you through gathering every detail needed to complete your Augusta filing.
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Frequently Asked Questions
Yes, you can potentially benefit from both the home office deduction and the "Augusta Rule" (Section 280A(g) of the Internal Revenue Code), provided you meet the specific requirements for each.
The Augusta Rule allows homeowners to rent out their personal residence for up to 14 days per year without reporting the rental income, provided the home is rented at fair market value and not used as a primary rental property. This provision can be advantageous if, for example, you rent your home to your business for meetings or events. The business can deduct the rental expense, and you, as the homeowner, are not required to report the rental income, resulting in tax-free income. To take advantage, you need to find a comparable venue for or business to rent. But don't worry, we've done all the leg work for you!
The Augusta Rule allows homeowners to rent their personal residence to their business or another party for up to 14 days per year without reporting the income on their tax return. To qualify, the rental must be for business purposes, charged at fair market value, and properly documented. Homeowners must ensure compliance with IRS guidelines and avoid overlapping deductions, like the home office deduction, for the same space.
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