Tax-filing season can bring stress, but savvy individuals employing house hacking can benefit from various tax deductions. This strategy, which involves renting out part of one's home, has grown popular in recent years, especially as inflation affects housing costs. Homeowners can generate passive income while reducing their living expenses. Financial expert Timothy Chase emphasizes that house hacking is not just about money saved; it offers substantial tax incentives, making it an appealing choice for new investors.
It's become a go-to move for first-time investors looking to break into real estate without fully committing to being a landlord.
House hacking is one of the smartest real estate strategies for years, combining reduced living costs with valuable tax benefits.
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