Lots of people have a second home which was partly purchased for tax deductions. Changes in the tax code starting in 2018 have eliminated much of the property tax and interest deductions available to second-home buyers.
The very large standard deduction is great but why not take advantage of tax law to save more of your income? Create a business to rent your second home. Flip that property into the business and you can file a business tax return reinstating the lost opportunities the tax code changed.
Learn how this is done by listening to this podcast. Why not make a few dollars on your vacation home and save even more?
Check out our website: LoganAndersonllc.com
Lots of people have a second home which was partly purchased for tax deductions. Changes in the tax code starting in 2018 have eliminated much of the property tax and interest deductions available to second-home buyers.
The very large standard deduction is great but why not take advantage of tax law to save more of your income? Create a business to rent your second home. Flip that property into the business and you can file a business tax return reinstating the lost opportunities the tax code changed.
Learn how this is done by listening to this podcast. Why not make a few dollars on your vacation home and save even more?
Check out our website: LoganAndersonllc.com