102 - How to Write Off Expenses for Your Home

In this video, I will discuss how to write off expenses for your home, whether you are an individual homeowner or a business owner/investor. For individual homeowners, the main deductions are
mortgage interest and property taxes. Additionally, if you sell your home after living there for at least
two years, you can exclude a significant portion of the capital gain. However, for business owners
and investors, a percentage of your house can become a deduction based on the square footage
used for business purposes. This includes deductions for utilities, repairs, and even improvements
made to the office space. Learn how to maximize your deductions and save on taxes by leveraging
your home.

Thank you for listening to another episode of Wealth Game podcast.

The goal is to get informal yet actionable advice directly to business owners and investors. The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.

For topic suggestions, questions to cover, or collaboration requests please email [email protected].

For additional information and links to all available platforms please visit our website at www.wealthgame.io