The Best Short-Term Rental Tax Write-offs

Short-term rental tax write-offs are no joke, making them just one more reason so many real estate investors are flocking to the vacation rental space. Short-term rentals provide many of the same standard tax deductions that long-term rental properties grant you. But, they also allow you access to other types of tax deductions that can help lower your non-real estate related income.

Back with us again for this week’s tax tip are Amanda Han and Matt MacFarland from Keystone CPA. Amanda and Matt both know what amazing tax benefits come from real estate investing and that short-term rentals often provide even greater deductions than most rentals. So, if you’re not tallying up all the hours, money, and sweat you’re putting into your vacation rental investment, then you could be missing it!

Have any other tax questions you’d like answered? Want Amanda and Matt to touch on another niche of real estate investing? Let us know in the comments below!

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Grab “The Book on Tax Strategies for the Savvy Real Estate Investor”:
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Check out Last Week’s Episode on 2022 Tax Strategies:

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Do Short-Term Rental Hosts Have a Bigger Tax Burden?

Do Short-Term Rental Hosts Have a Bigger Tax Burden? Here’s What to Know

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Work with Keystone CPA on Your 2022 Taxes:
https://www.keystonecpa.com/
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Connect with Amanda and Matt on BiggerPockets:
Amanda: https://www.biggerpockets.com/users/keystonecpa?utm_source=youtube&utm_medium=description&utm_campaign=none
Matt: https://www.biggerpockets.com/users/macfarland?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Tax Saving Strategies for Short-Term Rentals
00:38 Defining a Short-Term Rental
01:20 Where is STR Income Reported?
02:26 Do You Need an LLC for STRs?
03:10 Short-Term Rental Write-Offs
04:00 Using Material Participation to Offset Income Tax