🏡 💰 Looking for a creative way to lessen your tax burden? There's one major strategy that could help: short-term rentals! Whether it's Airbnb or Vrbo, renting out a property you own this way is treated like a business. That means you can deduct losses against your W2 income, unlike typical rental real estate, which is considered passive. As a real estate agent with several long-term properties, this is how we reduce our tax burden. Though our properties are long-term, we see the value in short-term rentals for tax advantages and additional income streams. Remember, you must buy the property, manage it yourself, and ensure the average days rented per stay are less than 7 to claim losses. 💼 ✨ But hey, we’re not CPA’s, so be sure to consult with a tax professional before diving in! #RealEstate #TaxStrategies #IncomeStreams 🏠 💼
