Starting or buying a business often requires significant spending before the business officially opens. Fortunately, the tax law allows you to deduct at least some of these costs instead of waiting until you sell the business to receive a tax benefit.

Here's a valuable tax strategy, commonly known as the Augusta rule, that can help you generate tax-free income while claiming a legitimate business deduction.

With over 45 years of experience, the owner of Trinity Realty, Frances Singery, specializes in helping clients navigate life's most challenging transitions, including death, divorce, and distress. Her career began in service as a volunteer in a senior care facility, shaping her lifelong commitment to caring for others.

Sean Boehm is a licensed independent insurance agent based in California, also licensed in 27 additional states. He specializes in providing comprehensive health insurance solutions for individuals at every stage of life, from newborns to seniors entering Medicare - helping clients understand and navigate all of their available options.