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Red
Triangle's Bottom Line Report #214: You don't have to have a business to take tax-free money out of your home; you don't even have to own a home! Business owners, homeowners, and renters alike can take tax-free money out of their homes legally. Businesses have always enjoyed more favorable tax treatment under the tax code than individuals have, and this will continue to be the case. But if you have a business, here is one of the best ways to take tax-free money out of your home: IF YOU HAVE A BUSINESS THAT IS RUN FROM A LOCATION OUTSIDE OF YOUR HOME, CONSIDER CONVERTING IT TO A HOME-BASED BUSINESS. Using your home as your principal place of business not only saves you the overhead of an outside office, it allows you to take business-use-of-home deductions that are not available otherwise. The amount of income offset by some business-use-of-home deductions is virtually tax-free! UPDATE: The term "principal place of business" has taken on a more liberal meaning for tax years beginning after 1998. After 1998, taxpayers can deduct business-use-of-home expenses for space in their homes used for administrative and management activities for a trade or business --- even if the business is run from an outside location --- providing that the taxpayer does not conduct substantial administrative and management activities for the business in a fixed location outside of the home. NOTE: "5 Easy Ways to Take Tax-Free Money Out of Your Home!" is covered under Red Triangle's UNCONDITIONAL MONEY-BACK GUARANTEE: Use the information for up to 90 days risk-free. If you are unhappy with your purchase for any reason, you may return it within 90 days for a refund of the purchase price---NO QUESTIONS ASKED!
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