• Tax-free income with the Augusta rule

  • Aug 22 2024
  • Length: 19 mins
  • Podcast

Tax-free income with the Augusta rule

  • Summary

  • In this episode, we explore the Augusta Rule, a unique tax strategy that allows homeowners to rent out their property for up to 14 days annually without paying taxes on the rental income. Our guest, Alexis E. Gallati, a tax strategist, will break down the fundamentals of the Augusta Rule, its benefits, and how homeowners can implement this strategy while complying with IRS regulations. Alexis will share insights on setting competitive rental rates, documenting compliance, and maximizing the potential of this tax exemption.

    Alexis E. Gallati is a tax strategist.

    She discusses the KevinMD article, "How doctors can use the Augusta Rule to save on taxes."

    Our presenting sponsor is Nuance, a Microsoft company.

    Together, Microsoft and Nuance are leveraging their rich digital technology and advanced AI capabilities to tackle some of health care's biggest challenges. AI-driven technology promises to revolutionize patient and provider experiences with clinical documentation that writes itself.

    The Nuance Dragon Ambient eXperience, or DAX for short, is a voice-enabled solution that automatically captures patient encounters securely and accurately at the point of care. DAX Copilot combines proven conversational and ambient AI with the most advanced generative AI in a mobile application that integrates directly with your existing workflows.

    Physicians who use DAX have reported a 50 percent decrease in documentation time and a 70 percent reduction in feelings of burnout, and 85 percent of patients say their physician is more personable and conversational.

    Discover AI-powered clinical documentation that writes itself. Visit https://nuance.com/daxinaction to see a 12-minute DAX Copilot demo.

    VISIT SPONSOR → https://nuance.com/daxinaction

    SUBSCRIBE TO THE PODCAST → https://www.kevinmd.com/podcast

    RECOMMENDED BY KEVINMD → https://www.kevinmd.com/recommended

    GET CME FOR THIS EPISODE → https://www.kevinmd.com/cme

    I'm partnering with Learner+ to offer clinicians access to an AI-powered reflective portfolio that rewards CME/CE credits from meaningful reflections. Find out more: https://www.kevinmd.com/learnerplus

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