Want the full episode? 1️⃣ Follow me 2️⃣ Comment “PODCAST” 3️⃣ Check your message requests
Summary
This video clip discusses the short-term rental tax loophole. It is different than investing in long-term rentals because, if you meet certain requirements, you can use losses created on paper from those rentals, from depreciation to deduct against all other types of income on their return. Real estate could be a side hustle, and you can potentially use the losses against all types of income to reduce your overall tax burden.
More from Regulations & Compliance
Carson City, Nevada, is refining its short-term rental regulations. City supervisors are currently reviewing and modifying the local ordinance during a retreat. This review aims to address operational aspects, potentially impacting local hosts through new or revised rules, emphasizing compliance.
A 21-unit vacation rental in Dunedin, Florida, has been approved, signaling potential growth in the local short-term rental market. This approval could lead to increased accommodation options for tourists visiting the area. This news could also influence local regulations.
St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
Curated by Learn STR by GoStudioM