9 Tax Write Offs for Airbnb Rental Properties

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
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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).

[@ladashalovett6503]

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]

One of the better videos on this, clear and informative with direct IRS language. Appreciate your effort.

[@lgsupport440]

Great video man💯

[@dfromtheblock1537]

It’s about time someone posted about this content

[@LYFEAccounting]

Did you enjoy it?

[@corey1022]

Yes need that Augusta rule video

[@LYFEAccounting]

Noted, thanks!

[@jacobzoey243]

Very informative. Thank you!

[@davidmontalvo9959]

Very helpful info regarding airbnb property rental business write offs. Ty for the tax deduction helps.

[@susanpryor-RE]

This is great info. Thanks for sharing

[@LYFEAccounting]

Thanks for watching, Susan!

[@Beezy_Crypto]

Good video Dude

[@LiniousRHoliday]

Outstanding video 😎

[@LYFEAccounting]

Thank you 💯

[@salpremiers]

Great video!

[@LYFEAccounting]

Thanks, Sal!

[@bnbiz]

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]

Thanks right! Hiring your kids is a great strategy, if the kids are between ages 7-17

[@bigcuzokinfolk]

Thanks 👍 4sho sounds good to me kinfolk

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[@keenan9756]

Can you do one on rental arbitrage?

[@Kpzkhai]

Can we get more video on Airbnb hosts? Please

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Add video regarding augusta loophole.

[@Harzeezreport]

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[@devonblaine]

Too-sawn, AZ

[@ERIC-lw2yl]

Is there a right off for paying a property manager?

[@user-bb5wd8cq4m]

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[@TheLifeofRicky]

I’m looking for a short term rental, which city?

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Augusta rule!!

[@LYFEAccounting]

Alright, I am going to do it!

[@Beezy_Crypto]

Tuscan, Arizona?

[@SeasideOasisRentalsLLC-eh1qp]

A year late but are you taking new clients and if so are you licensed in SC?

[@polliekay1]

Where is your practice based out of?

[@ooliemoolie8011]

I had an issue setting up a call. What email should I send an email to?

[@shantelbleeker9413]

in order to file schedule C do you need your rental property under an LLC?

[@tax-modern]

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]

So what if you start your short term rental business in the middle of the year from a former primary residence?

[@tax-modern]

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.

[@melissalawrence7925]

how do I get in touch with you

[@thooker22]

Do these rules apply to air bnbing a room in primary residence?

[@tax-modern]

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]

Do you assist individuals with taxes before starting a business with a short-term rental?

[@LYFEAccounting]

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

[@stevenkirkman7819]

I need a great cpa, how can i get in contact with yall? I was connected to. Tax hive before

[@michaelpiercemichael1440]

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]

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