How to Have a Vacation Home That Pays for Itself

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Turn your vacation home or second home into an asset by renting out the home when you are not using it. You can use this strategy to have your vacation home pay for itself. Having your vacation home qualify for the Short-Term Rental Tax Loophole can also provide some great tax advantages. This strategy has the advantage of converting what would be a liability into an asset.
This is also one of the few tax strategies that works for W-2 full-time employees!
Short-Term Rental Tax Loophole Video ▶️ • Short-Term Rental Loop...
Investment Tax Strategies Course ▶️ taxplanninghq.com/investment-...
Video Contents:
00:00 - Intro to the Strategy
01:19 - When Does This Strategy Make Sense?
04:08 - Key Benefits of Strategy
10:19 - Short-Term Rental Tax Loophole
⚠️ Exercise caution before using this strategy. Do your own research and make sure you fully understand the risks you are undertaking!
💡 I do not work with clients or offer any consulting services. If you want to learn more about the best tax and investment strategies, subscribe to my channel and check out these courses ▶️ sharonwinsmith.com/courses/
The information provided in this video is owned by Winsmith Tax LLC and is solely for informational and educational purposes. It is not intended as investment, legal, or financial advice. Always consult with a professional familiar with your unique situation, or conduct your own research before making any decisions. We might receive commissions for recommending certain products or services.

Опубликовано:

9 июл 2024

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Комментарии : 8

@jjohn662 17 дней назад

Could you consider having a follow up to this video? Please pair with doing a $1M mega-Roth conversion using the tax payment that would be paid on the conversion($350k), as the down payment for a $1M vacation STR home? No one is talking about this hybrid approach. Would love to hear your spin. We all have two years left to do this using bonus depreciation/cost segregation as the offset, particularly if the Senate approves bumping it back up to 100% in the lame duck session. It’s already passed the House of Representatives. Love your stuff, keep posting.

@jonmoore4050 17 дней назад

I do this with my primary home--great way to turn your biggest liability into an asset & have the SRT business pay most of the home expenses + meet a lot of really great people.

@DavidBaughier 17 дней назад

I’ve watched a number of your videos in the last week. This is just another well delivered message from you. I greatly appreciate it. Getting smarter by the minute.

@chayden1402 15 дней назад

😂this is crazy I literally just bought a home in jamaica and thinking of what to do...your right on time thanks

@frankcurto2981 16 дней назад

My primary residence is in the Hamptons plan to retire in 5 to 7 years and relocate closer to the kids in Connecticut with the strategy work for me if I converted it from my primary residence to a rental residence

@mccarthyfamily5174 16 дней назад

The best personal finance channel on the tube! If you’re still listening to inexperienced millennials giving dumb advice then unsubscribe now….and subscribe to Ms Winsmith because she’s the real deal.

@gurrrrlish 17 дней назад

interesting - - i live in Boston. i bought a tiny cottage on Cape in 2017 - it was bank owned & strictly a cash deal. - later that same year another neighboring cottage came up for sale cash deal too - so i bought that one as well. they each cost me 55K to buy plus i invested about 30K total to make them both livable & rentable. these cottages are