Maxwell (Max) Fountain’s Post

Beyond Service Accommodation Building Real Assets 💪📈 At the Blue Bricks Property Event, Zee had an enlightening conversation with Kam about the real appeal of service accommodation. Kam pointed out that people aren’t necessarily interested in the service accommodation itself, but rather the results it gives – specifically, strong cash flow as service accommodation can be a powerful strategy for generating consistent income. If you have any questions or would like further insight about service accommodation and advice for your financial goals, reach out to us via the link below or in our bio. We’re here to provide guidance on your financial journey. 🔗 https://buff.ly/3WpcFAb #Accountant #TaxAdvisor #PropertyTax #PropertyInvestment

Are you fully aware of your obligations as a short-term rental property owner? Whether you list on platforms like Airbnb or Vrbo, it’s crucial to stay compliant with municipal regulations and understand your HST responsibilities. Our latest blog includes: Key municipal and township requirements HST registration thresholds When HST applies to the sale of a short-term rental property 📅 Reminder: Many municipalities require compliance by December 31, 2024. Stay ahead of potential penalties and ensure you’re meeting your tax obligations. Read the full article for actionable insights and expert advice. #ShortTermRentals #RealEstateTax #HSTCompliance #BusinessAdvisory

Maximize your Airbnb earnings with these tax write-offs! 🏡💰 From property promotion to cleaning and maintenance, make sure you're taking advantage of all eligible deductions. #airbnbincome #taxwriteoffs #rentalproperty #realestateinvesting #propertymanagement #airbnbhost #TaxDeductions #taxdeductions2024 #ShortTermRentals #propertymaintenance #cleaningservices #FinancialTips #income #SmartInvesting #taxwriteoff #irs #profitsview

Attention: Real Estate Investors Business Owner's Another Accounting Tip that you should take note while doing your business. 💥Maximize Deductions💥 Ensure that you are maximizing tax deductions by accurately tracking all deductible expenses associated with your Airbnb rental property. This includes both operational expenses and depreciation deductions for the property itself. Consult with a tax professional to understand which expenses are deductible and how to properly report them on your tax return. When all the expenses are properly accounted you can surely save money on your taxes and your reports were also accurate. #businessgrowth #taxsavings #Quickbooksonline #Xero #RealEstateInvestors # #AirBnBHost #Rentalproperty #Shorttermrental #accountingtips #RealEstate

🏡 Attention Airbnb and Vrbo Hosts🏡 Did you know that as a short-term rental host, your income is subject to residential rental property tax rules? That’s right! After the end of the year, you’ll likely receive a Form 1099 (or similar), reporting the total income you've earned from your property. But here’s the catch: Even if you don’t receive a form, that rental income is still reportable—and taxable. Depending on your situation, you might be able to deduct some or all of your related expenses. Don’t let tax season catch you off guard! 👉 Need help navigating these tax rules? Contact us today to ensure you're fully prepared! #TaxTips #ShortTermRentals #AirbnbHost #VrboHost #TaxPlanning

A reminder about the new side hustle reporting rules. Do you earn extra income by selling goods (new or second-hand) online? Do you rent out a spare room in your home through Airbnb or a similar scheme? Many people have embraced these opportunities to increase their income and help combat the cost of living crisis. However, sellers with income exceeding £1,000 per year from online transactions should declare their income to HMRC. Tax liability is only incurred if their income from all streams totals more than the personal allowance value of £12,570. Read more here and do share as so many people are not aware. https://lnkd.in/efqZQXvR #SideHustleRules #OnlineSelling #AirbnbIncome #IncomeDeclaration #HMRCRules #TaxLiability

Heads up, Property Investors! If you're considering converting your short-term rental or Airbnb into a long-term rental or personal use, there are some important financial implications to keep in mind: 1️⃣ GST/HST Costs: You might face GST/HST on the market value of the property when you make the switch. 2️⃣ Income Tax Impact: Changing to personal use means a deemed disposition, which can have income tax consequences. 3️⃣ Compliance Issues: From 2024 onwards, if your short-term rental isn’t properly licensed or registered, you won't be able to deduct rental expenses. These regulations are making it tougher for investors and developers, creating extra admin work and disincentives. Simplifying these rules could help spur more development, balance the housing market, and better meet growing demand. #RealEstate #TaxTips #Investment #HousingMarket #PolicyReform

✈️ Turn your property visits into tax deductions! This is the travel hack most rental property owners don't know about... You can deduct: Mileage to/from your property Hotel stays Meals during business trips Transportation costs But here's the catch - it MUST be directly related to your rental business! Keep those receipts, future millionaire! 📝 Tag a property investor who needs to see this! 👇 #RealEstateInvestor #TravelDeductions #PropertyManagement #BusinessTravel #TaxTips

🏡 💰 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 🏠 💼

💼 Unlock Tax Savings with the STR Loophole! Are you an Airbnb host? Discover how savvy investors are navigating the Short-Term Rental (STR) tax loophole to maximize returns in the Airbnb universe. Learn the tips, strategies, and legal insights you need to know! 🏠💸 Read more: The STR Loophole #AirbnbHost #TaxStrategy #RealEstateInvesting #Brevitas https://lnkd.in/gKJmzFDH