47 \\ How to Use the Augusta Loophole Correctly to Cut Your Taxes
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Mon 16 Oct 2023
- Episode Link
- https://smallbusinessfinance.podbean.com/e/47-unlock-tax-savings-1-small-business-tax-deduction/
This episode dives into one of Tiffany’s favorite tax strategies—the Augusta Loophole—and why so many business owners get it wrong. You’ll learn how renting your home to your business for meetings, planning sessions, or training can create a powerful tax deduction, and the exact steps you must follow to keep it audit-proof. Tiffany covers the five biggest mistakes owners make: skipping a rental agreement, failing to document meetings, using low comps, not issuing a 1099, and not moving the money. Done right, this simple tax strategy can reduce your business tax bill while keeping you compliant with IRS rules.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
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