STR Taxes 101 (US): Income, Expenses, and Depreciation
Summary
This video provides a detailed overview of short-term rental taxes in the US, covering income reporting, expense tracking, depreciation, and the short-term rental tax loophole. It emphasizes the importance of accurate record-keeping and consulting with a CPA to ensure compliance and maximize tax benefits.
More from Regulations & Compliance
Missouri lawmakers are working to create legislation that will protect short-term rental owners ahead of the upcoming World Cup. This legislation aims to address potential issues and provide support for STR owners during the event. Details about the specific protections and their significance are still emerging, but the effort highlights the growing importance of STRs in major events.
Missouri lawmakers are advocating for protections for short-term rentals, signaling a potential shift in the regulatory landscape. The push suggests growing recognition of the economic impact of STRs within the state and aims to create a more favorable environment for hosts. Stay informed about these potential legislative changes and their effects on your business.
The Ocean City Council has reversed its short-term rental moratorium, signaling a potential shift in local regulations. This change may open up opportunities for new and existing hosts in the area. Hosts should stay informed on local ordinances to ensure continued compliance.
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