This article is the seventh of ten tips for reducing taxes during the summer.
Tip 7: Primary Residence Rental
Consider renting our your home if you live in an area that hosts summertime major golf tournaments, art festivals, or marathons. By renting out your primary residence for less than two weeks during the year, you do not have to comply with the usual tax rules by reporting rental income. Although rental income is tax-free, you cannot deduct rental-based expenses.