www.websyte.com/subject Web Knowledgebase

Over 46,000 free articles designed to give you useful information on how to save money, make money, improve your health, happiness, and relationships.

A Real Estate Business Strategy To Generate Up To $500,000 From Your Home

Google
Web www.websyte.com/subject
Select a Topic

Addiction
Adsense
Adwords
Affiliate
Article
Auction
Auto And Trucks
Auto Insurance
Baby
Bankruptcy
Bathroom
Blog
Business
Business And Finance
Children
Computers And Internet
Cooking
Credit
Dating
Decorating
Depression
Diabetes
Diet
Dog
Dog Training
Domain
Dvd Reviews
Ebay
Education
Email Marketing
Family
Fishing
Food And Drink
Foot
Furniture
Gadgets And Gizmos
Garden
General Interest
Golf
Guitar
Hair
Health
History
Home
Home Business
Home Mortgage
Home Refinance
Home Schooling
How To
Insurance
Internet Marketing
Investing
Ipod
Job
Kids And Teens
Kitchen
Learning
Legal
Make Money
Marketing
Marriage
Massage
Maternity
Menopause
Mortgage
Online Business
Parenting
Party Planning
Pets And Animals
Photography
Real Estate
Refinance
Relationships
Remodeling
Retirement
Rss
Sales
Save
Self Improvement And Motivation
Shopping
Site Promotion
Speaking
Stocks
Success
Sudoku
Tips
Travel
Travel And Leisure
Voip
Wealth
Web Design And Development
Website
Wedding
Women
Work At Home
Writing

By Brad Wozny

We have provided both an American and Canadian business strategy for real estate in this investment tip. Read on..

The IRS has a ď2 Years and a DayĒ rule that can mean money over and above your home based business tax deduction.

This secret alone can mean that your own home can earn you half a million dollars, so this is one real estate business strategy you donít want to miss.

This IRS rule states you can generate up to $250,000 tax-free profit on your home, and up to $500,000 (if you are married) and $250,000 if you are not if you have lived in the home at least two years and one day out of five years of real estate ownership.

This means you can rent your home as part of your real estate business, get a home based business tax deduction and make up to $500,000 tax free. As long as you have rented your home for up to three years, you can take advantage of this great business strategy.

If you intend to make this claim as well as make a home based business tax deduction for your business, you need to move back into your real estate if it has been three years since you have lived there Ė but the amount of time you spend living in the real estate property before and after the rental counts towards the 24 month and one day rule.

As long as you have not bought and sold another real estate property while leasing out property A, this business strategy can work for you, helping you to make money from both the IRS and from any home based business tax deduction you qualify for.

Donít forget to grab any home based business tax deduction you can Ė you will be taxed some money on your profit, in all likelihood.

If you need more information a great resource is the IRS Publication 523 Selling Your Home at www.irs.gov

In Canada this business strategy for real estate is much better!

Canadians can qualify for a home based business tax deduction or two for their real estate business, but their capital gains taxes exceptions are even easier because you are exempt from such taxes on your main residence.

If you have multiple homes, call a CA to figure out whether this business strategy will work for you.

Your CA will be able to explain residency qualifications for you. Again, though, focus on each home based business tax deduction while also going for the capital gains exemption.

Itís a solid real estate business strategy to spend less on taxes than you have to in order to expand your profit line.

Thatís one way to make the most of each home based business tax deduction.

Take advantage of $147 in free investing tips showing examples of other investment techniques and real estate business strategy for you to profit from.

About The Author: Brad Wozny and his mother generated over $1 Million profits in real estate in 93 days. Their mission to help 100,000 Women & Families Achieve Financial Freedom. Brad & Mary are endorsed by Mark Victor Hansen, co-Creator of "Chicken Soup for the Soul". Click on millionaireriches.com/wpblogger/ now for $147 in FREE Gifts & Tips