Turning Your Short Term Rental into a Tax Advantage

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 - RecapConnect 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/@strco....nsultantsCleaningBnB - CleaningBnB is committed to providing short-term vacation rental owners with an array of service offerings, allowing them to self-manage and increase profitability. By empowering self-management and avoiding the unnecessary expense of property management, CleaningBnB is here to help your business achieve long-term success and realize a higher return on investment.  We offer a variety of services, including turnover cleaning, to ensure guests have an amazing first impression.  Reach out today via cleaningbnb.com and let’s find the right the right solution for your investment.