If you own a second home, my new article makes “must” reading.
Why? Because a long-forgotten, Tax Court ruling can help you dramatically increase deductions on your second home!
By the way, you won’t find any mention of this money-saving strategy in IRS guidance to taxpayers. Unless you study old cases the way we do, you might never know how to save thousands of dollars in taxes on your second home.
Want to learn what the Tax Court approved and how its finding can help put money in your pocket? Don’t miss this chance to read my new article titled Tax Tips: Use This Forgotten Tax Technique to Increase Deductions on Your Vacation or Other Home.
Three ways our fact-filled article can help you:
- We’ll explain the landmark “Bolton” decision. Dorance and Helen Bolton took the IRS to Tax Court and won! Their victory allowed them to increase their deductions on their second home by 49%! You’ll get the whole story when you read the full article.
- We’ll tell you why the Bolton’s strategy may be right for you. There are two ways to determine how much mortgage-interest and property-tax expenses you must apply to the cap on rental expenses. You can use the Bolton method or the IRS method. We’ll explain why the Bolton approach makes a lot more sense when you read the full article.
- You’ll learn why renting out a residence can hurt you. When your home is a residence, the vacation-home rules divide it for tax purposes. This means you have to treat it as a “residence” for part of the year and as a “rental property” for part of the year. We’ll explain why this can create painful problems when you read the full article.