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The Augusta Rule is America’s Greatest Windfall
Prepare to be amazed
If you are unaware of the Augusta Rule, you might want to sit down first.
There is something you need to know.
Under the right circumstances, an annual home rental during Augusta, Georgia’s golf tournament week in April can pay a significant amount of a homeowner’s mortgage for the year.
And each year thereafter.
Read those sentences again slowly to ensure you grasp the essence of the Augusta Rule, because you can do the same. I kid you not!
Every homeowner in the United States has the potential to take advantage of this legal loophole, which has its origins in the state of Georgia. You can thank the Masters Golf Tournament and the IRS for its inception.
In the early days of Bobby Jones’s golf tournament, Augusta had few hotels and thousands of worldwide guests converging on the city.
Residents began the practice of renting their houses to golfers, media and patrons of the tournament — a practice that remains to this day albeit with one major tweak.
Locals were comfortable renting homes and taking the family on vacation for spring break. The part they didn’t care for was paying taxes on the windfall in the face of costs…
