Turning Your Short Term Rental into a Tax Advantage
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Turning Your Short Term Rental into a Tax Advantage
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Today TC and I are talking to Thomas Castelli, a real estate tax advisor. In this partner profile, Thomas lays out how the IRS thinks about self-managed short term rentals and what steps you need to be taking TODAY so come tax time you'll sleep like a baby.
0:00 - Intro
6:15 - Tax benefits you don't want to miss
12:58 - Tracking and recording your material participation
34:48 - How to calculate your expenses
43:43 - Recap
Connect with Thomas
https://thomascastelli.com/
https://www.therealestatecpa.com/
Connect with Us
https://strconsultants.co/
Check out our How-to Videos: https://www.youtube.com/@strconsultants
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