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300. The 14-Day Rule & Personal Use Days: Avoiding Common Pitfalls for STR Owners

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Manage episode 450946421 series 2995210
Content provided by Tax Smart Real Estate Investors Podcast and Hall CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Tax Smart Real Estate Investors Podcast and Hall CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
In this episode of the Tax Smart REI podcast, Thomas and Ryan explore the critical nuances of personal use days for short-term rental properties, a topic that generates frequent questions from their community of real estate investors and tax-savvy listeners. They break down the 14-day rule, share actionable strategies to avoid common pitfalls, and provide clarity on how personal use impacts your tax benefits—especially for those leveraging the short-term rental loophole. Here’s what they discuss: - The 14-day rule and how it applies to short-term rental properties - What counts as personal use and how the IRS defines it - Travel days, family stays, and the gray areas of personal use - Best practices for keeping credible time logs & avoiding audit risks To become a client, request a consultation from Hall CPA, PLLC at go.therealestatecpa.com/3KSEev6 Join the Tax Smart Insiders Community: go.therealestatecpa.com/3Xx1Cpd Visit PURE at: rentpure.com Check out Thomas's new YouTube channel: www.youtube.com/@thomascastelli The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
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326 episoade

Artwork
iconDistribuie
 
Manage episode 450946421 series 2995210
Content provided by Tax Smart Real Estate Investors Podcast and Hall CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Tax Smart Real Estate Investors Podcast and Hall CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
In this episode of the Tax Smart REI podcast, Thomas and Ryan explore the critical nuances of personal use days for short-term rental properties, a topic that generates frequent questions from their community of real estate investors and tax-savvy listeners. They break down the 14-day rule, share actionable strategies to avoid common pitfalls, and provide clarity on how personal use impacts your tax benefits—especially for those leveraging the short-term rental loophole. Here’s what they discuss: - The 14-day rule and how it applies to short-term rental properties - What counts as personal use and how the IRS defines it - Travel days, family stays, and the gray areas of personal use - Best practices for keeping credible time logs & avoiding audit risks To become a client, request a consultation from Hall CPA, PLLC at go.therealestatecpa.com/3KSEev6 Join the Tax Smart Insiders Community: go.therealestatecpa.com/3Xx1Cpd Visit PURE at: rentpure.com Check out Thomas's new YouTube channel: www.youtube.com/@thomascastelli The Tax Smart Real Estate Investors podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.
  continue reading

326 episoade

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