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9 Tax Write Offs for Airbnb Rental Properties 

LYFE Accounting
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Let's talk about Tax Write-Offs for Short-Term Rental Property. So, this video is great for anyone who is a current or aspiring real estate investor listing properties on apps like Airbnb, Vrbos, Homeaway, and so on
Book a Discovery Call: schedule.lyfetaxes.com/discov...
Timestamps
Intro (0:00)
14-Day Rule (1:59)
Tax Write Off #1 (4:00)
Tax Write Off #2 (6:44)
Tax Write Off #3 (8:30)
Depreciate Recapture (10:00)
1031 Exchange #4 (10:50)
Tax Write Off #5 (12:21)
Tax Write Off #6 (13:37)
Tax Write Off #7 (14:29)
Tax Write Off #8 (15:06)
Tax Write-Off #9 (16:21)
Important Note (17:39)
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

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13 июл 2024

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Комментарии : 46   
@ladashalovett6503
@ladashalovett6503 Год назад
Quite literally the reason that a lot of businesses fail within a very short time period is precisely the information that you're giving out for free! I am so grateful I landed onto your page, it was the best thing I did all throughout 2022!!! ❤️
@ctpropertymanagement
@ctpropertymanagement Год назад
One of the better videos on this, clear and informative with direct IRS language. Appreciate your effort.
@lgsupport440
@lgsupport440 Год назад
Great video man💯
@jacobzoey243
@jacobzoey243 5 месяцев назад
Very informative. Thank you!
@dfromtheblock1537
@dfromtheblock1537 Год назад
It’s about time someone posted about this content
@LYFEAccounting
@LYFEAccounting Год назад
Did you enjoy it?
@davidmontalvo9959
@davidmontalvo9959 Год назад
Very helpful info regarding airbnb property rental business write offs. Ty for the tax deduction helps.
@corey1022
@corey1022 Год назад
Yes need that Augusta rule video
@LYFEAccounting
@LYFEAccounting Год назад
Noted, thanks!
@Beezy_Crypto
@Beezy_Crypto 3 месяца назад
Good video Dude
@susanpryor-RE
@susanpryor-RE Год назад
This is great info. Thanks for sharing
@LYFEAccounting
@LYFEAccounting Год назад
Thanks for watching, Susan!
@Notme55555y
@Notme55555y 4 месяца назад
Augusta Loophole please. All of your videos make me become a better business man. I’ll be seeing you on the flip side soon.
@salpremiers
@salpremiers Год назад
Great video!
@LYFEAccounting
@LYFEAccounting Год назад
Thanks, Sal!
@LiniousRHoliday
@LiniousRHoliday Год назад
Outstanding video 😎
@LYFEAccounting
@LYFEAccounting Год назад
Thank you 💯
@bnbiz
@bnbiz Год назад
Great content. Thanks for sharing! For those of us with kids, we can employ our children to work at our AirBNB for up to 12k per year per child🙂
@LYFEAccounting
@LYFEAccounting Год назад
Thanks right! Hiring your kids is a great strategy, if the kids are between ages 7-17
@bigcuzokinfolk
@bigcuzokinfolk Год назад
Thanks 👍 4sho sounds good to me kinfolk
@keenan9756
@keenan9756 Год назад
Can you do one on rental arbitrage?
@Kpzkhai
@Kpzkhai Год назад
Can we get more video on Airbnb hosts? Please
@michaeljohnson8305
@michaeljohnson8305 6 месяцев назад
Add video regarding augusta loophole.
@Harzeezreport
@Harzeezreport Год назад
Add that Augusta loophole please
@user-bb5wd8cq4m
@user-bb5wd8cq4m 20 дней назад
Augusta loophole please
@devonblaine
@devonblaine 7 месяцев назад
Too-sawn, AZ
@SeasideOasisRentalsLLC-eh1qp
@SeasideOasisRentalsLLC-eh1qp 26 дней назад
A year late but are you taking new clients and if so are you licensed in SC?
@ERIC-lw2yl
@ERIC-lw2yl 9 месяцев назад
Is there a right off for paying a property manager?
@Beezy_Crypto
@Beezy_Crypto 3 месяца назад
Tuscan, Arizona?
@TheLifeofRicky
@TheLifeofRicky Год назад
I’m looking for a short term rental, which city?
@stevenkirkman7819
@stevenkirkman7819 28 дней назад
I need a great cpa, how can i get in contact with yall? I was connected to. Tax hive before
@ooliemoolie8011
@ooliemoolie8011 Год назад
I had an issue setting up a call. What email should I send an email to?
@othnielmaidaniuc1786
@othnielmaidaniuc1786 Год назад
Augusta rule!!
@LYFEAccounting
@LYFEAccounting Год назад
Alright, I am going to do it!
@polliekay1
@polliekay1 11 месяцев назад
Where is your practice based out of?
@melissalawrence7925
@melissalawrence7925 Год назад
how do I get in touch with you
@shantelbleeker9413
@shantelbleeker9413 Год назад
in order to file schedule C do you need your rental property under an LLC?
@tax-modern
@tax-modern 2 месяца назад
A rental property almost never goes on Schedule C. The only exception is if you provide "substantial services", which are hotel like services *during* the guests' stays. An LLC is never a factor in your federal taxes, a single member LLC is completely disregarded for tax purposes and doesn't change what you can deduct or how you file your taxes.
@mariamaa572
@mariamaa572 2 месяца назад
So what if you start your short term rental business in the middle of the year from a former primary residence?
@tax-modern
@tax-modern 2 месяца назад
Yes, you can still qualify that way. Time before the house is placed in service as a rental is disregarded, it doesn't count as personal use days, it just isn't included in the calculations at all. So then you just have to have some bookings, and the average stay has to be 7 days or less. And then you do still have to log at least 500 hours of time (or 100 if no one else spends more time than you) on the property.
@thooker22
@thooker22 6 месяцев назад
Do these rules apply to air bnbing a room in primary residence?
@tax-modern
@tax-modern 2 месяца назад
If you mean being able to deduct rental tax losses from your ordinary income, unfortunately, no. When you rent out rooms in your home, your tax losses are limited to the amount of rental income. The rental property would need to be a separate dwelling unit (with its own kitchen, etc.) to qualify.
@lovematters7122
@lovematters7122 Год назад
Do you assist individuals with taxes before starting a business with a short-term rental?
@LYFEAccounting
@LYFEAccounting Год назад
I can if someone has a solid projection of their revenues, but I bring the most value when someone actually has an active business or investment
@michaelpiercemichael1440
@michaelpiercemichael1440 Год назад
Or get your money about 300,000 go to Dubai open a bank account buy a apartment there and put it on Airbnb and have no tax because Dubai is a no tax country,go get the bread
@ladashalovett6503
@ladashalovett6503 Год назад
AUGUSTA LOOPHOLE FOR $1000 - ALEX!
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