The Augusta Rule

The tax code is all about connections and having lobbyists, says Jim Boulden. A business owner doesn't have to claim the rental income on his tax return if it's rented for more than 14 days. So really all you're doing is you are taking a distribution, but you can call it a rent expense. The IRS wasn't happy about it, but it still survived. It's a valid tax strategy and any business owner should be doing this.