The Tax Break No One Knows About

Back in the early 1970’s a group of wealthy home owners from Augusta, Georgia lobbied Congress to exempt from federal taxes the income they received from renting their mansions to the players and fans during the famed golf tournament held once annually in that beautiful southern city. Some of the gorgeous dwellings rented for as much as $25,000 to $30,000 a week and more. The result of this effort was Section 280 A(g) of the tax code enabling owners to rent their homes for less than 15 days a year (enough to cover the length of the tournament) and not even report the income on their federal tax returns. <a href="https://medium.datadriveninvestor.com/the-tax-break-no-one-knows-about-14ce3142a03e">Learn More</a>