Latest / Thanks For Visiting / 453. The 5 Biggest Tax Mistakes STR Hosts Make
Transcript
- 0:58Sarah Karakaian: Hello,
- 0:58Sarah Karakaian: welcome
- 0:58Sarah Karakaian: back
- 0:59Sarah Karakaian: to
- 0:59Sarah Karakaian: the
- 0:59Sarah Karakaian: great
- 0:59Sarah Karakaian: episode.
- 1:00Sarah Karakaian: My
- 1:00Sarah Karakaian: name
- 1:00Sarah Karakaian: is
- 1:01Sarah Karakaian: Sarah
- 1:01Sarah Karakaian: Karakaian.
- 1:02Annette Grant: I'm
- 1:02Annette Grant: Annette
- 1:02Annette Grant: Grant,
- 1:02Annette Grant: and
- 1:03Annette Grant: together
- 1:03Annette Grant: we
- 1:03Annette Grant: are
- 1:04Annette Grant: Thanks
- 1:04Annette Grant: for
- 1:04Annette Grant: Visiting.
- 1:05Sarah Karakaian: Let's
- 1:05Sarah Karakaian: start
- 1:05Sarah Karakaian: this
- 1:05Sarah Karakaian: episode
- 1:06Sarah Karakaian: like
- 1:06Sarah Karakaian: we
- 1:06Sarah Karakaian: do
- 1:07Sarah Karakaian: each
- 1:07Sarah Karakaian: and
- 1:07Sarah Karakaian: every
- 1:07Sarah Karakaian: week,
- 1:07Sarah Karakaian: and
- 1:08Sarah Karakaian: that
- 1:08Sarah Karakaian: is
- 1:08Sarah Karakaian: sharing
- 1:08Sarah Karakaian: one
- 1:08Sarah Karakaian: of
- 1:09Sarah Karakaian: you
- 1:09Sarah Karakaian: are
- 1:09Sarah Karakaian: incredible
- 1:10Sarah Karakaian: listeners
- 1:10Sarah Karakaian: who
- 1:11Sarah Karakaian: is
- 1:11Sarah Karakaian: heading
- 1:11Sarah Karakaian: on
- 1:11Sarah Karakaian: over
- 1:11Sarah Karakaian: to
- 1:12Sarah Karakaian: strshare.com,
- 1:14Sarah Karakaian: entering
- 1:15Sarah Karakaian: the
- 1:15Sarah Karakaian: information
- 1:15Sarah Karakaian: about
- 1:16Sarah Karakaian: your
- 1:16Sarah Karakaian: short-term
- 1:16Sarah Karakaian: rentals
- 1:17Sarah Karakaian: that
- 1:17Sarah Karakaian: we
- 1:17Sarah Karakaian: can
- 1:17Sarah Karakaian: share
- 1:18Sarah Karakaian: you
- 1:18Sarah Karakaian: here
- 1:18Sarah Karakaian: on
- 1:18Sarah Karakaian: the
- 1:18Sarah Karakaian: podcast
- 1:19Sarah Karakaian: and
- 1:20Sarah Karakaian: on
- 1:20Sarah Karakaian: our
- 1:20Sarah Karakaian: Instagram
- 1:21Sarah Karakaian: account
- 1:21Sarah Karakaian: each
- 1:22Sarah Karakaian: and
- 1:22Sarah Karakaian: every
- 1:22Sarah Karakaian: Sunday.
- 1:23Sarah Karakaian: Annette,
- 1:23Sarah Karakaian: who
- 1:23Sarah Karakaian: are
- 1:24Sarah Karakaian: we
- 1:24Sarah Karakaian: sharing
- 1:24Sarah Karakaian: this
- 1:24Sarah Karakaian: week?
- 1:25Annette Grant: This
- 1:25Annette Grant: week
- 1:25Annette Grant: we
- 1:25Annette Grant: are
- 1:25Annette Grant: sharing
- 1:26Annette Grant: at
- 1:26Annette Grant: Fowler
- 1:27Annette Grant: Creek
- 1:27Annette Grant: Cabin,
- 1:28Annette Grant: and
- 1:28Annette Grant: Fowler
- 1:29Annette Grant: is
- 1:29Annette Grant: spelled
- 1:30Annette Grant: F-O-W-L-E-R
- 1:33Annette Grant: and
- 1:34Annette Grant: I
- 1:35Annette Grant: I've
- 1:35Annette Grant: been
- 1:36Annette Grant: looking
- 1:36Annette Grant: at
- 1:36Annette Grant: properties
- 1:36Annette Grant: a
- 1:36Annette Grant: lot
- 1:37Annette Grant: different
- 1:38Annette Grant: lately
- 1:38Annette Grant: since
- 1:38Annette Grant: we
- 1:39Annette Grant: are
- 1:39Annette Grant: in
- 1:39Annette Grant: the
- 1:39Annette Grant: middle
- 1:39Annette Grant: of
- 1:39Annette Grant: our
- 1:39Annette Grant: land
- 1:40Annette Grant: project.
- 1:40Annette Grant: And
- 1:41Annette Grant: one
- 1:41Annette Grant: thing
- 1:41Annette Grant: that
- 1:42Annette Grant: really
- 1:42Annette Grant: stood
- 1:42Annette Grant: out
- 1:43Annette Grant: on
- 1:43Annette Grant: this
- 1:43Annette Grant: property
- 1:44Annette Grant: is
- 1:44Annette Grant: they
- 1:44Annette Grant: have
- 1:44Annette Grant: a
- 1:45Annette Grant: wood
- 1:45Annette Grant: fired
- 1:46Annette Grant: hot
- 1:46Annette Grant: tub,
- 1:46Annette Grant: and
- 1:47Annette Grant: you
- 1:47Annette Grant: do
- 1:47Annette Grant: not
- 1:47Annette Grant: see
- 1:48Annette Grant: those
- 1:48Annette Grant: very
- 1:49Annette Grant: often,
- 1:50Annette Grant: and
- 1:50Annette Grant: they
- 1:50Annette Grant: have
- 1:50Annette Grant: done
- 1:51Annette Grant: an
- 1:51Annette Grant: excellent
- 1:51Annette Grant: job
- 1:51Annette Grant: of
- 1:52Annette Grant: like.
- 1:52Annette Grant: Building
- 1:52Annette Grant: it
- 1:52Annette Grant: in.
- 1:53Annette Grant: Um,
- 1:53Annette Grant: they're,
- 1:53Annette Grant: they
- 1:54Annette Grant: are
- 1:54Annette Grant: on
- 1:54Annette Grant: a
- 1:54Annette Grant: creek,
- 1:54Annette Grant: like
- 1:55Annette Grant: their
- 1:55Annette Grant: name
- 1:55Annette Grant: says.
- 1:56Annette Grant: And
- 1:56Annette Grant: so
- 1:56Annette Grant: you
- 1:56Annette Grant: kind
- 1:57Annette Grant: of
- 1:57Annette Grant: look
- 1:57Annette Grant: outside,
- 1:58Annette Grant: there's,
- 1:58Annette Grant: um,
- 1:58Annette Grant: a
- 1:58Annette Grant: walkway
- 1:59Annette Grant: and
- 1:59Annette Grant: then
- 2:00Annette Grant: the
- 2:01Annette Grant: wood-fired
- 2:01Annette Grant: hot
- 2:01Annette Grant: tub
- 2:02Annette Grant: is
- 2:02Annette Grant: kind
- 2:02Annette Grant: of
- 2:02Annette Grant: nestled
- 2:03Annette Grant: in,
- 2:03Annette Grant: um,
- 2:04Annette Grant: the
- 2:04Annette Grant: landscape.
- 2:05Annette Grant: And
- 2:06Annette Grant: I
- 2:06Annette Grant: just
- 2:06Annette Grant: really,
- 2:07Annette Grant: um,
- 2:08Annette Grant: and
- 2:08Annette Grant: drawn
- 2:08Annette Grant: to
- 2:08Annette Grant: that
- 2:08Annette Grant: and
- 2:09Annette Grant: I,
- 2:09Annette Grant: Sarah
- 2:09Annette Grant: and
- 2:09Annette Grant: I
- 2:09Annette Grant: have
- 2:09Annette Grant: been
- 2:10Annette Grant: doing
- 2:10Annette Grant: a
- 2:10Annette Grant: lot
- 2:10Annette Grant: of
- 2:10Annette Grant: discussions
- 2:11Annette Grant: with
- 2:11Annette Grant: our
- 2:11Annette Grant: partners
- 2:11Annette Grant: because
- 2:12Annette Grant: we're
- 2:12Annette Grant: trying
- 2:12Annette Grant: to
- 2:12Annette Grant: figure
- 2:13Annette Grant: out
- 2:13Annette Grant: our
- 2:13Annette Grant: hot
- 2:13Annette Grant: tub
- 2:13Annette Grant: situations
- 2:14Annette Grant: instead
- 2:14Annette Grant: of
- 2:14Annette Grant: like
- 2:14Annette Grant: the
- 2:15Annette Grant: square,
- 2:15Annette Grant: traditional
- 2:17Annette Grant: plastic
- 2:18Annette Grant: hot
- 2:18Annette Grant: tubs,
- 2:18Annette Grant: can
- 2:18Annette Grant: we
- 2:18Annette Grant: do
- 2:19Annette Grant: more
- 2:19Annette Grant: of
- 2:19Annette Grant: a
- 2:20Annette Grant: wood-fired
- 2:20Annette Grant: natural
- 2:21Annette Grant: one?
- 2:21Annette Grant: So
- 2:21Annette Grant: I
- 2:22Annette Grant: love
- 2:22Annette Grant: that
- 2:22Annette Grant: they
- 2:22Annette Grant: have
- 2:22Annette Grant: that
- 2:23Annette Grant: here.
- 2:24Annette Grant: And
- 2:24Annette Grant: also
- 2:25Annette Grant: they
- 2:25Annette Grant: actually
- 2:26Annette Grant: have
- 2:26Annette Grant: two
- 2:26Annette Grant: fire
- 2:27Annette Grant: pits
- 2:27Annette Grant: too,
- 2:28Annette Grant: and
- 2:28Annette Grant: I
- 2:29Annette Grant: love
- 2:29Annette Grant: that
- 2:29Annette Grant: they're
- 2:29Annette Grant: just
- 2:29Annette Grant: using
- 2:30Annette Grant: the
- 2:30Annette Grant: land
- 2:30Annette Grant: that
- 2:30Annette Grant: they
- 2:30Annette Grant: have
- 2:31Annette Grant: with
- 2:31Annette Grant: their
- 2:32Annette Grant: terrain.
- 2:32Annette Grant: And
- 2:32Annette Grant: another
- 2:33Annette Grant: hot
- 2:33Annette Grant: tip
- 2:33Annette Grant: that
- 2:34Annette Grant: they've
- 2:34Annette Grant: done
- 2:34Annette Grant: in
- 2:34Annette Grant: here
- 2:34Annette Grant: is
- 2:35Annette Grant: they've
- 2:35Annette Grant: given
- 2:36Annette Grant: their
- 2:36Annette Grant: guests
- 2:37Annette Grant: all
- 2:37Annette Grant: of
- 2:38Annette Grant: their
- 2:38Annette Grant: favorite
- 2:38Annette Grant: hiking
- 2:39Annette Grant: spots.
- 2:39Annette Grant: And
- 2:39Annette Grant: so
- 2:40Annette Grant: I
- 2:40Annette Grant: love
- 2:40Annette Grant: being
- 2:41Annette Grant: able
- 2:41Annette Grant: to,
- 2:41Annette Grant: um.
- 2:43Annette Grant: If
- 2:43Annette Grant: you're
- 2:43Annette Grant: gonna
- 2:44Annette Grant: have
- 2:44Annette Grant: guests
- 2:44Annette Grant: to
- 2:44Annette Grant: help
- 2:44Annette Grant: them
- 2:45Annette Grant: out,
- 2:45Annette Grant: it's
- 2:45Annette Grant: right
- 2:45Annette Grant: in
- 2:45Annette Grant: their
- 2:45Annette Grant: Instagram,
- 2:46Annette Grant: telling
- 2:46Annette Grant: 'em
- 2:46Annette Grant: where
- 2:46Annette Grant: to
- 2:47Annette Grant: hike.
- 2:47Annette Grant: And
- 2:47Annette Grant: then
- 2:47Annette Grant: last
- 2:48Annette Grant: but
- 2:48Annette Grant: not
- 2:48Annette Grant: least,
- 2:48Annette Grant: I
- 2:48Annette Grant: think
- 2:48Annette Grant: this
- 2:48Annette Grant: is
- 2:49Annette Grant: really
- 2:49Annette Grant: important.
- 2:50Annette Grant: They
- 2:50Annette Grant: have
- 2:50Annette Grant: a
- 2:50Annette Grant: lot
- 2:51Annette Grant: of
- 2:51Annette Grant: posts
- 2:52Annette Grant: on
- 2:52Annette Grant: their
- 2:52Annette Grant: Instagram
- 2:53Annette Grant: with
- 2:53Annette Grant: bears.
- 2:54Annette Grant: They're
- 2:54Annette Grant: so
- 2:54Annette Grant: cute.
- 2:55Annette Grant: They're
- 2:55Annette Grant: so
- 2:56Annette Grant: cute.
- 2:56Annette Grant: However,
- 2:56Annette Grant: I
- 2:56Annette Grant: love
- 2:57Annette Grant: that
- 2:57Annette Grant: they've
- 2:57Annette Grant: made
- 2:57Annette Grant: it
- 2:58Annette Grant: very
- 2:58Annette Grant: clear.
- 2:59Annette Grant: Um,
- 2:59Annette Grant: if
- 3:00Annette Grant: that's
- 3:00Annette Grant: not
- 3:00Annette Grant: your
- 3:00Annette Grant: thing.
- 3:01Annette Grant: This
- 3:01Annette Grant: might
- 3:01Annette Grant: not
- 3:02Annette Grant: be
- 3:02Annette Grant: the
- 3:02Annette Grant: place
- 3:02Annette Grant: for
- 3:02Annette Grant: you.
- 3:02Annette Grant: Like
- 3:03Annette Grant: we
- 3:03Annette Grant: enjoyed,
- 3:04Annette Grant: look
- 3:04Annette Grant: at
- 3:04Annette Grant: all
- 3:05Annette Grant: the,
- 3:05Annette Grant: um,
- 3:06Annette Grant: bear
- 3:06Annette Grant: reels
- 3:07Annette Grant: that
- 3:07Annette Grant: they
- 3:07Annette Grant: had,
- 3:07Annette Grant: but
- 3:07Annette Grant: I
- 3:07Annette Grant: think
- 3:08Annette Grant: that's
- 3:08Annette Grant: a
- 3:08Annette Grant: really
- 3:08Annette Grant: nice
- 3:08Annette Grant: way
- 3:09Annette Grant: to
- 3:09Annette Grant: let
- 3:10Annette Grant: people
- 3:10Annette Grant: know,
- 3:11Annette Grant: uh,
- 3:11Annette Grant: that
- 3:11Annette Grant: nature
- 3:12Annette Grant: is
- 3:12Annette Grant: abound
- 3:13Annette Grant: in
- 3:13Annette Grant: your
- 3:13Annette Grant: area.
- 3:14Sarah Karakaian: Nature
- 3:14Sarah Karakaian: is
- 3:14Sarah Karakaian: a
- 3:15Sarah Karakaian: nature.
- 3:15Sarah Karakaian: Who
- 3:15Sarah Karakaian: knew?
- 3:16Annette Grant: Nature
- 3:16Annette Grant: is
- 3:16Annette Grant: nature.
- 3:17Annette Grant: If
- 3:17Annette Grant: you
- 3:17Annette Grant: stay
- 3:18Annette Grant: at
- 3:18Annette Grant: Fowler
- 3:18Annette Grant: Creek
- 3:18Annette Grant: Cabin,
- 3:19Annette Grant: but
- 3:19Annette Grant: well
- 3:19Annette Grant: done.
- 3:20Annette Grant: It's
- 3:20Annette Grant: just
- 3:20Annette Grant: nestled
- 3:20Annette Grant: in
- 3:20Annette Grant: near
- 3:21Annette Grant: the
- 3:21Annette Grant: creek.
- 3:22Annette Grant: They've
- 3:22Annette Grant: got
- 3:22Annette Grant: all
- 3:22Annette Grant: the
- 3:22Annette Grant: things
- 3:22Annette Grant: going
- 3:23Annette Grant: on.
- 3:23Annette Grant: Kudos
- 3:24Annette Grant: to
- 3:24Annette Grant: you.
- 3:24Annette Grant: Thanks
- 3:25Annette Grant: for
- 3:26Annette Grant: sharing
- 3:26Annette Grant: your
- 3:26Annette Grant: space
- 3:27Annette Grant: with
- 3:27Annette Grant: us.
- 3:28Annette Grant: Let's
- 3:28Annette Grant: get
- 3:29Annette Grant: onto
- 3:29Annette Grant: the
- 3:29Annette Grant: serious
- 3:30Annette Grant: stuff.
- 3:31Annette Grant: Yes.
- 3:31Annette Grant: The
- 3:31Annette Grant: fun
- 3:31Annette Grant: stuff.
- 3:32Sarah Karakaian: Yes.
- 3:32Sarah Karakaian: Let's,
- 3:33Sarah Karakaian: what
- 3:33Sarah Karakaian: we're
- 3:33Sarah Karakaian: gonna
- 3:34Sarah Karakaian: do
- 3:34Sarah Karakaian: today
- 3:35Sarah Karakaian: is
- 3:35Sarah Karakaian: we're
- 3:35Sarah Karakaian: gonna
- 3:35Sarah Karakaian: dive
- 3:36Sarah Karakaian: in
- 3:36Sarah Karakaian: and
- 3:36Sarah Karakaian: talk
- 3:37Sarah Karakaian: about
- 3:38Sarah Karakaian: taxes
- 3:39Sarah Karakaian: and
- 3:39Sarah Karakaian: how,
- 3:40Sarah Karakaian: if
- 3:40Sarah Karakaian: you
- 3:41Sarah Karakaian: own
- 3:41Sarah Karakaian: short-term
- 3:42Sarah Karakaian: rentals,
- 3:43Sarah Karakaian: how
- 3:43Sarah Karakaian: you
- 3:44Sarah Karakaian: can
- 3:44Sarah Karakaian: leverage
- 3:45Sarah Karakaian: them
- 3:47Sarah Karakaian: to
- 3:47Sarah Karakaian: save
- 3:48Sarah Karakaian: money
- 3:48Sarah Karakaian: on
- 3:48Sarah Karakaian: your
- 3:48Sarah Karakaian: taxes,
- 3:49Sarah Karakaian: but
- 3:49Sarah Karakaian: it
- 3:50Sarah Karakaian: is
- 3:51Sarah Karakaian: nuanced.
- 3:54Annette Grant: A
- 3:54Annette Grant: little
- 3:54Annette Grant: disclaimer
- 3:55Annette Grant: from
- 3:55Annette Grant: our
- 3:56Annette Grant: attorney.
- 3:57Annette Grant: Disclaimer,
- 3:58Annette Grant: we
- 3:58Annette Grant: are
- 3:58Annette Grant: not
- 3:58Annette Grant: CPAs.
- 3:59Annette Grant: Nope.
- 3:59Annette Grant: Tax
- 4:00Annette Grant: professionals,
- 4:00Annette Grant: not
- 4:00Annette Grant: even
- 4:01Annette Grant: close,
- 4:01Annette Grant: or
- 4:01Annette Grant: attorneys.
- 4:02Annette Grant: Absolutely
- 4:02Annette Grant: not.
- 4:03Annette Grant: This
- 4:03Annette Grant: video
- 4:03Annette Grant: is
- 4:03Annette Grant: based
- 4:04Annette Grant: on
- 4:04Annette Grant: our
- 4:04Annette Grant: experience
- 4:05Annette Grant: as
- 4:05Annette Grant: STR
- 4:06Annette Grant: hosts
- 4:06Annette Grant: and
- 4:06Annette Grant: research
- 4:07Annette Grant: from
- 4:07Annette Grant: tax
- 4:08Annette Grant: experts.
- 4:09Annette Grant: But
- 4:09Annette Grant: please
- 4:10Annette Grant: always
- 4:10Annette Grant: consult
- 4:11Annette Grant: a
- 4:11Annette Grant: tax
- 4:11Annette Grant: professional
- 4:12Annette Grant: for
- 4:12Annette Grant: advice
- 4:12Annette Grant: tailored
- 4:12Annette Grant: to
- 4:13Annette Grant: your
- 4:13Annette Grant: business.
- 4:14Annette Grant: So
- 4:14Annette Grant: we
- 4:14Annette Grant: enlisted,
- 4:15Annette Grant: we
- 4:15Annette Grant: did
- 4:15Annette Grant: enlist
- 4:15Annette Grant: the
- 4:15Annette Grant: hope
- 4:16Annette Grant: of
- 4:16Annette Grant: our
- 4:16Annette Grant: friend
- 4:17Annette Grant: Amanda
- 4:17Annette Grant: Hahn.
- 4:18Annette Grant: She's
- 4:18Annette Grant: the
- 4:18Annette Grant: managing
- 4:19Annette Grant: director
- 4:19Annette Grant: at
- 4:19Annette Grant: Keystone
- 4:20Annette Grant: CPA,
- 4:21Annette Grant: who
- 4:21Annette Grant: specializes
- 4:22Annette Grant: in
- 4:22Annette Grant: real
- 4:22Annette Grant: estate
- 4:23Annette Grant: tax
- 4:23Annette Grant: saving
- 4:24Annette Grant: strategies.
- 4:25Annette Grant: So
- 4:25Annette Grant: again,
- 4:26Annette Grant: we
- 4:27Annette Grant: are
- 4:27Annette Grant: gonna
- 4:27Annette Grant: offer
- 4:27Annette Grant: you
- 4:28Annette Grant: as
- 4:28Annette Grant: much
- 4:28Annette Grant: information
- 4:29Annette Grant: from
- 4:29Annette Grant: our
- 4:29Annette Grant: personal
- 4:30Annette Grant: experience,
- 4:30Annette Grant: but
- 4:31Annette Grant: please
- 4:31Annette Grant: learn
- 4:31Annette Grant: from
- 4:31Annette Grant: this
- 4:31Annette Grant: and
- 4:32Annette Grant: then
- 4:32Annette Grant: go
- 4:32Annette Grant: see
- 4:32Annette Grant: your
- 4:33Annette Grant: tax
- 4:33Annette Grant: professional
- 4:34Sarah Karakaian: if
- 4:34Sarah Karakaian: you
- 4:34Sarah Karakaian: need
- 4:34Sarah Karakaian: a
- 4:34Sarah Karakaian: tax
- 4:35Sarah Karakaian: professional.
- 4:35Sarah Karakaian: We
- 4:35Sarah Karakaian: went
- 4:36Sarah Karakaian: ahead
- 4:36Sarah Karakaian: and
- 4:36Sarah Karakaian: linked.
- 4:37Sarah Karakaian: Amanda
- 4:37Sarah Karakaian: Han's
- 4:38Sarah Karakaian: info
- 4:38Sarah Karakaian: in
- 4:39Sarah Karakaian: the
- 4:39Sarah Karakaian: show
- 4:39Sarah Karakaian: notes
- 4:39Sarah Karakaian: below
- 4:39Sarah Karakaian: so
- 4:39Sarah Karakaian: you
- 4:40Sarah Karakaian: can
- 4:40Sarah Karakaian: go
- 4:40Sarah Karakaian: check
- 4:40Sarah Karakaian: her
- 4:40Sarah Karakaian: out.
- 4:42Annette Grant: Mistake
- 4:43Annette Grant: number
- 4:43Annette Grant: one
- 4:43Annette Grant: is
- 4:44Annette Grant: misclassifying
- 4:45Annette Grant: your
- 4:46Annette Grant: rental
- 4:46Annette Grant: income.
- 4:48Sarah Karakaian: Okay,
- 4:48Sarah Karakaian: so
- 4:48Sarah Karakaian: one
- 4:49Sarah Karakaian: of
- 4:49Sarah Karakaian: the
- 4:49Sarah Karakaian: biggest
- 4:49Sarah Karakaian: misconceptions
- 4:50Sarah Karakaian: that
- 4:50Sarah Karakaian: short-term
- 4:51Sarah Karakaian: rental
- 4:51Sarah Karakaian: hosts
- 4:51Sarah Karakaian: make
- 4:52Sarah Karakaian: is
- 4:52Sarah Karakaian: that
- 4:52Sarah Karakaian: their
- 4:52Sarah Karakaian: rental
- 4:53Sarah Karakaian: income
- 4:53Sarah Karakaian: is
- 4:54Sarah Karakaian: similar
- 4:54Sarah Karakaian: to
- 4:54Sarah Karakaian: that
- 4:55Sarah Karakaian: of
- 4:55Sarah Karakaian: long-term
- 4:56Sarah Karakaian: rental
- 4:56Sarah Karakaian: income,
- 4:57Sarah Karakaian: but
- 4:57Sarah Karakaian: that's
- 4:57Sarah Karakaian: incorrect.
- 4:58Sarah Karakaian: The
- 4:58Sarah Karakaian: IRS
- 4:59Sarah Karakaian: treats
- 4:59Sarah Karakaian: short-term
- 5:00Sarah Karakaian: rental
- 5:00Sarah Karakaian: income
- 5:01Sarah Karakaian: differently
- 5:02Sarah Karakaian: than
- 5:02Sarah Karakaian: they
- 5:02Sarah Karakaian: treat
- 5:03Sarah Karakaian: long-term
- 5:03Sarah Karakaian: rental
- 5:04Sarah Karakaian: income.
- 5:04Sarah Karakaian: This
- 5:05Sarah Karakaian: is
- 5:05Sarah Karakaian: good
- 5:05Sarah Karakaian: news
- 5:06Sarah Karakaian: for
- 5:06Sarah Karakaian: short-term
- 5:06Sarah Karakaian: rental
- 5:06Sarah Karakaian: hosts
- 5:07Sarah Karakaian: because
- 5:08Sarah Karakaian: our
- 5:08Sarah Karakaian: losses
- 5:08Sarah Karakaian: like
- 5:09Sarah Karakaian: depreciation,
- 5:10Sarah Karakaian: expenses,
- 5:11Sarah Karakaian: repair
- 5:12Sarah Karakaian: costs.
- 5:12Sarah Karakaian: These
- 5:13Sarah Karakaian: can
- 5:13Sarah Karakaian: be,
- 5:13Sarah Karakaian: these
- 5:13Sarah Karakaian: can
- 5:13Sarah Karakaian: offset
- 5:15Sarah Karakaian: our
- 5:15Sarah Karakaian: W
- 5:16Sarah Karakaian: twos.
- 5:18Annette Grant: If
- 5:18Annette Grant: you
- 5:19Annette Grant: don't
- 5:19Annette Grant: classify
- 5:20Annette Grant: your
- 5:20Annette Grant: STR
- 5:21Annette Grant: income
- 5:21Annette Grant: correctly,
- 5:22Annette Grant: the
- 5:22Annette Grant: IRS
- 5:22Annette Grant: may
- 5:23Annette Grant: label
- 5:23Annette Grant: it
- 5:23Annette Grant: as
- 5:23Annette Grant: passive
- 5:24Annette Grant: income,
- 5:25Annette Grant: meaning
- 5:25Annette Grant: you
- 5:25Annette Grant: can't
- 5:26Annette Grant: use
- 5:26Annette Grant: those
- 5:27Annette Grant: losses
- 5:28Annette Grant: against
- 5:29Annette Grant: your
- 5:29Annette Grant: tax
- 5:29Annette Grant: bill
- 5:30Annette Grant: unless
- 5:30Annette Grant: potentially
- 5:31Annette Grant: you
- 5:31Annette Grant: have
- 5:31Annette Grant: other
- 5:31Annette Grant: passive
- 5:32Annette Grant: income.
- 5:33Annette Grant: Some
- 5:33Annette Grant: hosts
- 5:34Annette Grant: also
- 5:34Annette Grant: assume
- 5:35Annette Grant: that
- 5:35Annette Grant: they
- 5:35Annette Grant: owe
- 5:35Annette Grant: a
- 5:36Annette Grant: self-employment
- 5:36Annette Grant: tax,
- 5:37Annette Grant: which
- 5:37Annette Grant: can
- 5:37Annette Grant: be
- 5:37Annette Grant: up
- 5:37Annette Grant: to
- 5:38Annette Grant: 15.3%,
- 5:40Annette Grant: but
- 5:40Annette Grant: that
- 5:40Annette Grant: is
- 5:40Annette Grant: only
- 5:41Annette Grant: true
- 5:41Annette Grant: if
- 5:41Annette Grant: you
- 5:41Annette Grant: were
- 5:42Annette Grant: to
- 5:42Annette Grant: offer
- 5:42Annette Grant: other
- 5:42Annette Grant: services
- 5:43Annette Grant: like
- 5:43Annette Grant: daily
- 5:44Annette Grant: cleaning,
- 5:45Annette Grant: provide
- 5:45Annette Grant: meals
- 5:46Annette Grant: for
- 5:46Annette Grant: your
- 5:46Annette Grant: guests,
- 5:47Annette Grant: things
- 5:47Annette Grant: of
- 5:47Annette Grant: that
- 5:47Annette Grant: nature.
- 5:50Sarah Karakaian: The
- 5:50Sarah Karakaian: seven
- 5:50Sarah Karakaian: day
- 5:51Sarah Karakaian: rule,
- 5:51Sarah Karakaian: the
- 5:51Sarah Karakaian: key
- 5:52Sarah Karakaian: to
- 5:52Sarah Karakaian: unlocking
- 5:53Sarah Karakaian: tax
- 5:53Sarah Karakaian: benefits.
- 5:55Sarah Karakaian: Alright,
- 5:56Sarah Karakaian: so
- 5:56Sarah Karakaian: let's
- 5:57Sarah Karakaian: dig
- 5:57Sarah Karakaian: into
- 5:57Sarah Karakaian: this.
- 5:58Sarah Karakaian: If
- 5:58Sarah Karakaian: your
- 5:58Sarah Karakaian: average
- 5:59Sarah Karakaian: guest
- 5:59Sarah Karakaian: stay.
- 6:00Sarah Karakaian: Is
- 6:00Sarah Karakaian: seven
- 6:01Sarah Karakaian: days
- 6:01Sarah Karakaian: or
- 6:01Sarah Karakaian: less.
- 6:02Sarah Karakaian: Mm-hmm.
- 6:02Sarah Karakaian: This
- 6:03Sarah Karakaian: means
- 6:03Sarah Karakaian: the
- 6:03Sarah Karakaian: IRS
- 6:04Sarah Karakaian: treats
- 6:04Sarah Karakaian: your
- 6:04Sarah Karakaian: short-term
- 6:05Sarah Karakaian: rental
- 6:05Sarah Karakaian: as
- 6:05Sarah Karakaian: a
- 6:06Sarah Karakaian: business,
- 6:07Sarah Karakaian: not
- 6:07Sarah Karakaian: as
- 6:08Sarah Karakaian: rental
- 6:08Sarah Karakaian: income,
- 6:09Sarah Karakaian: which
- 6:10Sarah Karakaian: means
- 6:10Sarah Karakaian: that
- 6:10Sarah Karakaian: you
- 6:10Sarah Karakaian: could
- 6:11Sarah Karakaian: potentially
- 6:11Sarah Karakaian: use
- 6:12Sarah Karakaian: your
- 6:12Sarah Karakaian: STR
- 6:12Sarah Karakaian: losses
- 6:13Sarah Karakaian: to
- 6:14Sarah Karakaian: offset
- 6:14Sarah Karakaian: your
- 6:14Sarah Karakaian: W2
- 6:15Sarah Karakaian: income
- 6:15Sarah Karakaian: and
- 6:16Sarah Karakaian: lower
- 6:16Sarah Karakaian: your
- 6:17Sarah Karakaian: tax
- 6:17Sarah Karakaian: bill.
- 6:18Sarah Karakaian: Now,
- 6:18Sarah Karakaian: if
- 6:18Sarah Karakaian: your
- 6:18Sarah Karakaian: average
- 6:19Sarah Karakaian: guest
- 6:19Sarah Karakaian: stay
- 6:20Sarah Karakaian: is
- 6:20Sarah Karakaian: seven
- 6:20Sarah Karakaian: days
- 6:22Sarah Karakaian: or
- 6:22Sarah Karakaian: more,
- 6:23Sarah Karakaian: but
- 6:23Sarah Karakaian: less
- 6:23Sarah Karakaian: than
- 6:24Sarah Karakaian: 30,
- 6:24Sarah Karakaian: you
- 6:25Sarah Karakaian: might
- 6:25Sarah Karakaian: still
- 6:25Sarah Karakaian: qualify,
- 6:26Sarah Karakaian: but
- 6:26Sarah Karakaian: you'll
- 6:26Sarah Karakaian: have
- 6:27Sarah Karakaian: to
- 6:27Sarah Karakaian: prove
- 6:27Sarah Karakaian: that
- 6:27Sarah Karakaian: you're
- 6:27Sarah Karakaian: actively
- 6:28Sarah Karakaian: involved.
- 6:29Sarah Karakaian: More
- 6:29Sarah Karakaian: on
- 6:29Sarah Karakaian: that
- 6:30Sarah Karakaian: and
- 6:30Sarah Karakaian: mistake
- 6:30Sarah Karakaian: number
- 6:30Sarah Karakaian: two,
- 6:32Annette Grant: we're
- 6:32Annette Grant: gonna
- 6:33Annette Grant: run
- 6:33Annette Grant: through
- 6:33Annette Grant: some
- 6:33Annette Grant: example
- 6:34Annette Grant: scenarios
- 6:34Annette Grant: with
- 6:34Annette Grant: you
- 6:35Annette Grant: and
- 6:35Annette Grant: who
- 6:35Annette Grant: pays
- 6:36Annette Grant: and
- 6:36Annette Grant: who
- 6:36Annette Grant: saves
- 6:37Annette Grant: more.
- 6:37Sarah Karakaian: Okay.
- 6:37Sarah Karakaian: So
- 6:39Sarah Karakaian: let's
- 6:39Sarah Karakaian: keep
- 6:39Sarah Karakaian: track
- 6:39Sarah Karakaian: of
- 6:39Sarah Karakaian: this.
- 6:40Sarah Karakaian: Host
- 6:41Sarah Karakaian: A,
- 6:42Sarah Karakaian: rents
- 6:42Sarah Karakaian: their
- 6:42Sarah Karakaian: property
- 6:43Sarah Karakaian: for
- 6:43Sarah Karakaian: an
- 6:43Sarah Karakaian: average
- 6:44Sarah Karakaian: of
- 6:44Sarah Karakaian: 30
- 6:44Sarah Karakaian: plus
- 6:45Sarah Karakaian: days.
- 6:46Sarah Karakaian: So
- 6:46Sarah Karakaian: like
- 6:47Sarah Karakaian: a
- 6:47Sarah Karakaian: midterm
- 6:47Sarah Karakaian: rental.
- 6:47Sarah Karakaian: All
- 6:48Sarah Karakaian: right.
- 6:48Sarah Karakaian: Okay.
- 6:48Sarah Karakaian: Okay.
- 6:48Annette Grant: Yeah.
- 6:49Annette Grant: MTR
- 6:49Sarah Karakaian: and
- 6:50Sarah Karakaian: doesn't
- 6:50Sarah Karakaian: actively
- 6:50Sarah Karakaian: manage
- 6:51Sarah Karakaian: it.
- 6:51Sarah Karakaian: They
- 6:51Sarah Karakaian: have
- 6:51Sarah Karakaian: a
- 6:51Sarah Karakaian: property
- 6:52Sarah Karakaian: manager.
- 6:52Annette Grant: Alright.
- 6:53Annette Grant: Very
- 6:53Annette Grant: common.
- 6:54Sarah Karakaian: The
- 6:54Sarah Karakaian: IRS
- 6:54Sarah Karakaian: considers
- 6:55Sarah Karakaian: this
- 6:55Sarah Karakaian: passive
- 6:56Sarah Karakaian: income,
- 6:56Sarah Karakaian: right?
- 6:57Sarah Karakaian: The
- 6:57Sarah Karakaian: investor
- 6:57Sarah Karakaian: is
- 6:58Sarah Karakaian: not
- 6:58Sarah Karakaian: actively
- 6:59Sarah Karakaian: involved
- 6:59Sarah Karakaian: and
- 7:00Sarah Karakaian: the
- 7:00Sarah Karakaian: stay
- 7:00Sarah Karakaian: is
- 7:00Sarah Karakaian: 30
- 7:00Sarah Karakaian: plus
- 7:01Sarah Karakaian: days.
- 7:01Sarah Karakaian: So
- 7:02Sarah Karakaian: they
- 7:02Sarah Karakaian: cannot
- 7:03Sarah Karakaian: use
- 7:04Sarah Karakaian: their
- 7:04Sarah Karakaian: losses
- 7:05Sarah Karakaian: to
- 7:05Sarah Karakaian: lower
- 7:06Sarah Karakaian: their
- 7:06Sarah Karakaian: W2
- 7:07Sarah Karakaian: taxes.
- 7:08Sarah Karakaian: Okay.
- 7:08Annette Grant: Asterisk.
- 7:09Annette Grant: Asterisk
- 7:09Annette Grant: as
- 7:09Annette Grant: attorney,
- 7:10Annette Grant: right.
- 7:10Annette Grant: Ask
- 7:10Annette Grant: your
- 7:10Annette Grant: CPA.
- 7:11Sarah Karakaian: Ask
- 7:11Sarah Karakaian: your
- 7:11Sarah Karakaian: CPA.
- 7:12Sarah Karakaian: But
- 7:12Sarah Karakaian: interesting,
- 7:12Sarah Karakaian: right?
- 7:13Sarah Karakaian: 'cause
- 7:13Sarah Karakaian: a
- 7:13Sarah Karakaian: lot
- 7:13Sarah Karakaian: of
- 7:13Sarah Karakaian: people
- 7:13Sarah Karakaian: are
- 7:13Sarah Karakaian: out
- 7:14Sarah Karakaian: there
- 7:14Sarah Karakaian: talking
- 7:14Sarah Karakaian: about
- 7:15Sarah Karakaian: midterm
- 7:15Sarah Karakaian: rentals,
- 7:16Sarah Karakaian: but
- 7:16Sarah Karakaian: you
- 7:16Sarah Karakaian: gotta
- 7:16Sarah Karakaian: be
- 7:17Sarah Karakaian: careful
- 7:17Sarah Karakaian: because
- 7:17Sarah Karakaian: mm-hmm.
- 7:18Sarah Karakaian: If
- 7:18Sarah Karakaian: you're
- 7:19Sarah Karakaian: an
- 7:20Sarah Karakaian: SDR
- 7:20Sarah Karakaian: host
- 7:20Sarah Karakaian: and
- 7:21Sarah Karakaian: you
- 7:21Sarah Karakaian: like
- 7:21Sarah Karakaian: the
- 7:21Sarah Karakaian: benefits
- 7:22Sarah Karakaian: of
- 7:22Sarah Karakaian: these
- 7:23Sarah Karakaian: tax.
- 7:23Sarah Karakaian: Mm-hmm.
- 7:25Sarah Karakaian: Breaks,
- 7:25Sarah Karakaian: but
- 7:25Sarah Karakaian: then
- 7:26Sarah Karakaian: you
- 7:26Sarah Karakaian: pivot
- 7:26Sarah Karakaian: or
- 7:27Sarah Karakaian: someone
- 7:27Sarah Karakaian: tells
- 7:27Sarah Karakaian: you
- 7:28Sarah Karakaian: that
- 7:28Sarah Karakaian: MTRs
- 7:28Sarah Karakaian: are
- 7:28Sarah Karakaian: easier,
- 7:29Sarah Karakaian: you
- 7:30Sarah Karakaian: would
- 7:30Sarah Karakaian: no
- 7:30Sarah Karakaian: longer
- 7:30Sarah Karakaian: be
- 7:30Sarah Karakaian: able
- 7:30Sarah Karakaian: to
- 7:31Sarah Karakaian: leverage
- 7:31Sarah Karakaian: that.
- 7:32Annette Grant: And
- 7:32Annette Grant: you
- 7:32Annette Grant: also,
- 7:33Annette Grant: this
- 7:33Annette Grant: is
- 7:33Annette Grant: something
- 7:34Annette Grant: that's,
- 7:34Annette Grant: the
- 7:34Annette Grant: popularity
- 7:35Annette Grant: rises
- 7:35Annette Grant: here.
- 7:36Annette Grant: If
- 7:36Annette Grant: you
- 7:36Annette Grant: are
- 7:37Annette Grant: a
- 7:37Annette Grant: short-term
- 7:37Annette Grant: rental
- 7:38Annette Grant: investor
- 7:38Annette Grant: who
- 7:38Annette Grant: has
- 7:39Annette Grant: a
- 7:39Annette Grant: co-host,
- 7:40Annette Grant: you
- 7:40Annette Grant: really
- 7:41Annette Grant: wanna
- 7:41Annette Grant: chat
- 7:41Annette Grant: with
- 7:42Annette Grant: your
- 7:42Annette Grant: CPA
- 7:43Annette Grant: about
- 7:43Annette Grant: that
- 7:44Annette Grant: because
- 7:44Annette Grant: are
- 7:44Annette Grant: you
- 7:45Annette Grant: actively
- 7:45Annette Grant: involved
- 7:46Annette Grant: anymore?
- 7:46Annette Grant: So
- 7:47Annette Grant: there's
- 7:47Annette Grant: kind
- 7:47Annette Grant: of
- 7:47Annette Grant: that
- 7:48Annette Grant: co-host
- 7:48Annette Grant: caveat
- 7:49Annette Grant: too
- 7:49Annette Grant: that,
- 7:50Annette Grant: again,
- 7:50Annette Grant: the
- 7:50Annette Grant: more,
- 7:51Annette Grant: um.
- 7:53Annette Grant: The
- 7:53Annette Grant: more
- 7:53Annette Grant: conversations,
- 7:54Annette Grant: the
- 7:55Annette Grant: more
- 7:55Annette Grant: transparency
- 7:56Annette Grant: that
- 7:56Annette Grant: you
- 7:56Annette Grant: can
- 7:57Annette Grant: have
- 7:57Annette Grant: with
- 7:57Annette Grant: your
- 7:58Annette Grant: tax
- 7:58Annette Grant: accountant,
- 7:58Annette Grant: the
- 7:59Annette Grant: more
- 7:59Annette Grant: it's
- 7:59Annette Grant: gonna
- 7:59Annette Grant: behoove
- 7:59Annette Grant: you.
- 8:00Annette Grant: So
- 8:00Annette Grant: all
- 8:00Annette Grant: those
- 8:01Annette Grant: little
- 8:01Annette Grant: details
- 8:01Annette Grant: that
- 8:02Annette Grant: sometimes,
- 8:02Annette Grant: you
- 8:02Annette Grant: know,
- 8:03Annette Grant: get
- 8:03Annette Grant: just
- 8:04Annette Grant: lost
- 8:04Annette Grant: in
- 8:04Annette Grant: translation,
- 8:05Annette Grant: that's
- 8:05Annette Grant: why
- 8:05Annette Grant: it's
- 8:05Annette Grant: important
- 8:05Annette Grant: to
- 8:05Annette Grant: meet
- 8:06Annette Grant: with
- 8:06Annette Grant: them
- 8:06Annette Grant: several
- 8:06Annette Grant: times
- 8:06Annette Grant: throughout
- 8:07Annette Grant: the
- 8:07Annette Grant: year
- 8:07Annette Grant: and
- 8:07Annette Grant: just
- 8:08Annette Grant: have,
- 8:08Annette Grant: instead
- 8:08Annette Grant: of
- 8:08Annette Grant: just
- 8:09Annette Grant: sending
- 8:09Annette Grant: over
- 8:09Annette Grant: documents
- 8:10Annette Grant: in
- 8:10Annette Grant: their
- 8:10Annette Grant: portal,
- 8:11Annette Grant: you
- 8:11Annette Grant: wanna
- 8:11Annette Grant: have
- 8:11Annette Grant: these
- 8:12Annette Grant: conversations
- 8:12Annette Grant: so
- 8:12Annette Grant: you
- 8:12Annette Grant: explain
- 8:13Annette Grant: to
- 8:13Annette Grant: them
- 8:13Annette Grant: exactly
- 8:15Annette Grant: how
- 8:15Annette Grant: you're
- 8:15Annette Grant: running
- 8:15Annette Grant: your
- 8:15Annette Grant: property,
- 8:16Annette Grant: who's
- 8:16Annette Grant: running
- 8:16Annette Grant: your
- 8:17Annette Grant: property,
- 8:17Annette Grant: and
- 8:17Annette Grant: what
- 8:17Annette Grant: kind
- 8:17Annette Grant: of
- 8:17Annette Grant: guest
- 8:18Annette Grant: you're
- 8:18Annette Grant: hosting.
- 8:19Sarah Karakaian: Okay,
- 8:19Sarah Karakaian: so
- 8:19Sarah Karakaian: now
- 8:19Sarah Karakaian: host
- 8:20Sarah Karakaian: b.
- 8:21Sarah Karakaian: Rents
- 8:22Sarah Karakaian: for
- 8:22Sarah Karakaian: an
- 8:22Sarah Karakaian: average
- 8:22Sarah Karakaian: of
- 8:22Sarah Karakaian: four
- 8:23Sarah Karakaian: nights,
- 8:23Sarah Karakaian: so
- 8:24Sarah Karakaian: it's
- 8:24Sarah Karakaian: less
- 8:24Sarah Karakaian: than
- 8:24Sarah Karakaian: seven
- 8:24Sarah Karakaian: days.
- 8:25Sarah Karakaian: They
- 8:26Sarah Karakaian: actively
- 8:26Sarah Karakaian: manage
- 8:27Sarah Karakaian: their
- 8:27Sarah Karakaian: short-term
- 8:27Sarah Karakaian: rental,
- 8:28Sarah Karakaian: like
- 8:28Sarah Karakaian: their
- 8:28Sarah Karakaian: messaging
- 8:29Sarah Karakaian: guests.
- 8:29Sarah Karakaian: Maybe
- 8:30Sarah Karakaian: they're
- 8:30Sarah Karakaian: even
- 8:30Sarah Karakaian: like
- 8:30Sarah Karakaian: cleaning
- 8:31Sarah Karakaian: it,
- 8:31Sarah Karakaian: like
- 8:31Sarah Karakaian: they
- 8:31Sarah Karakaian: are
- 8:31Sarah Karakaian: ordering
- 8:32Sarah Karakaian: all
- 8:32Sarah Karakaian: the
- 8:32Sarah Karakaian: things.
- 8:33Sarah Karakaian: Um,
- 8:33Sarah Karakaian: and
- 8:33Sarah Karakaian: they
- 8:34Sarah Karakaian: need
- 8:34Sarah Karakaian: material
- 8:34Sarah Karakaian: participation
- 8:35Sarah Karakaian: hours.
- 8:36Sarah Karakaian: So
- 8:36Sarah Karakaian: they
- 8:36Sarah Karakaian: have
- 8:37Sarah Karakaian: to
- 8:37Sarah Karakaian: participate
- 8:37Sarah Karakaian: for
- 8:37Sarah Karakaian: a
- 8:37Sarah Karakaian: certain
- 8:38Sarah Karakaian: amount
- 8:38Sarah Karakaian: of
- 8:38Sarah Karakaian: time,
- 8:38Sarah Karakaian: the
- 8:38Sarah Karakaian: IRS
- 8:39Sarah Karakaian: to
- 8:39Sarah Karakaian: be
- 8:39Sarah Karakaian: able
- 8:39Sarah Karakaian: to
- 8:39Sarah Karakaian: consider
- 8:40Sarah Karakaian: them
- 8:40Sarah Karakaian: eligible,
- 8:41Sarah Karakaian: but
- 8:41Sarah Karakaian: they
- 8:41Sarah Karakaian: only
- 8:42Sarah Karakaian: provide
- 8:42Sarah Karakaian: basic
- 8:43Sarah Karakaian: lodging.
- 8:44Sarah Karakaian: The
- 8:45Sarah Karakaian: IRS
- 8:45Sarah Karakaian: considers
- 8:46Sarah Karakaian: this
- 8:46Sarah Karakaian: non-passive,
- 8:48Sarah Karakaian: right?
- 8:48Sarah Karakaian: They
- 8:48Sarah Karakaian: are
- 8:48Sarah Karakaian: actively
- 8:49Sarah Karakaian: involved
- 8:50Sarah Karakaian: so
- 8:50Sarah Karakaian: they
- 8:50Sarah Karakaian: can
- 8:51Sarah Karakaian: use
- 8:52Sarah Karakaian: their
- 8:52Sarah Karakaian: STR
- 8:52Sarah Karakaian: losses
- 8:53Sarah Karakaian: to
- 8:53Sarah Karakaian: reduce
- 8:54Sarah Karakaian: their
- 8:54Sarah Karakaian: W2
- 8:54Sarah Karakaian: tax
- 8:55Sarah Karakaian: bill.
- 8:56Sarah Karakaian: This
- 8:56Sarah Karakaian: is
- 8:56Sarah Karakaian: like
- 8:57Sarah Karakaian: the
- 8:57Sarah Karakaian: ideal
- 8:57Sarah Karakaian: STR
- 8:58Sarah Karakaian: scenario.
- 8:58Sarah Karakaian: If
- 8:58Sarah Karakaian: you
- 8:59Sarah Karakaian: wanna
- 8:59Sarah Karakaian: the
- 8:59Sarah Karakaian: most
- 9:00Sarah Karakaian: tax
- 9:00Sarah Karakaian: savings
- 9:00Sarah Karakaian: and
- 9:01Sarah Karakaian: this,
- 9:02Sarah Karakaian: you
- 9:02Sarah Karakaian: know,
- 9:02Sarah Karakaian: host
- 9:03Sarah Karakaian: B,
- 9:03Sarah Karakaian: the
- 9:03Sarah Karakaian: scenario
- 9:04Sarah Karakaian: is
- 9:04Sarah Karakaian: why.
- 9:05Sarah Karakaian: So
- 9:06Sarah Karakaian: there
- 9:06Sarah Karakaian: are
- 9:06Sarah Karakaian: so
- 9:06Sarah Karakaian: many
- 9:06Sarah Karakaian: people
- 9:07Sarah Karakaian: interested
- 9:07Sarah Karakaian: in
- 9:08Sarah Karakaian: short
- 9:08Sarah Karakaian: term
- 9:08Sarah Karakaian: rentals,
- 9:09Sarah Karakaian: but
- 9:09Sarah Karakaian: again,
- 9:09Sarah Karakaian: that's
- 9:09Sarah Karakaian: why
- 9:09Sarah Karakaian: we're
- 9:10Sarah Karakaian: going
- 9:10Sarah Karakaian: through
- 9:10Sarah Karakaian: these
- 9:10Sarah Karakaian: scenarios
- 9:11Sarah Karakaian: because.
- 9:12Annette Grant: We
- 9:12Annette Grant: wanna
- 9:12Annette Grant: make
- 9:13Annette Grant: sure
- 9:13Annette Grant: that
- 9:13Annette Grant: you're
- 9:13Annette Grant: actually
- 9:14Annette Grant: falling
- 9:14Annette Grant: in
- 9:15Annette Grant: that
- 9:15Annette Grant: particular
- 9:16Annette Grant: scenario.
- 9:16Annette Grant: Right.
- 9:16Annette Grant: All
- 9:17Annette Grant: right.
- 9:17Annette Grant: What's
- 9:17Annette Grant: up
- 9:17Annette Grant: next?
- 9:17Sarah Karakaian: So,
- 9:18Sarah Karakaian: host
- 9:18Sarah Karakaian: C
- 9:19Sarah Karakaian: runs
- 9:19Sarah Karakaian: for
- 9:19Sarah Karakaian: five
- 9:20Sarah Karakaian: nights
- 9:20Sarah Karakaian: days,
- 9:21Sarah Karakaian: so
- 9:21Sarah Karakaian: again,
- 9:21Sarah Karakaian: less
- 9:22Sarah Karakaian: than
- 9:22Sarah Karakaian: seven
- 9:22Sarah Karakaian: days,
- 9:23Sarah Karakaian: but
- 9:23Sarah Karakaian: they
- 9:24Sarah Karakaian: provide
- 9:24Sarah Karakaian: daily
- 9:25Sarah Karakaian: cleaning
- 9:26Sarah Karakaian: and
- 9:26Sarah Karakaian: breakfast.
- 9:28Sarah Karakaian: The
- 9:28Sarah Karakaian: IRS
- 9:29Sarah Karakaian: is
- 9:29Sarah Karakaian: gonna
- 9:29Sarah Karakaian: consider
- 9:29Sarah Karakaian: this
- 9:29Sarah Karakaian: an
- 9:30Sarah Karakaian: active
- 9:30Sarah Karakaian: business
- 9:31Sarah Karakaian: now,
- 9:32Sarah Karakaian: meaning
- 9:32Sarah Karakaian: they'll
- 9:32Sarah Karakaian: owe
- 9:33Sarah Karakaian: self-employment
- 9:34Sarah Karakaian: tax
- 9:34Sarah Karakaian: on
- 9:34Sarah Karakaian: top
- 9:35Sarah Karakaian: of
- 9:35Sarah Karakaian: their
- 9:35Sarah Karakaian: income
- 9:36Sarah Karakaian: tax.
- 9:36Annette Grant: Ooh.
- 9:38Annette Grant: Again,
- 9:38Annette Grant: this
- 9:38Annette Grant: is
- 9:38Annette Grant: something
- 9:39Annette Grant: that
- 9:39Annette Grant: chat
- 9:40Annette Grant: with
- 9:40Annette Grant: your.
- 9:41Annette Grant: CPA
- 9:42Annette Grant: because
- 9:42Annette Grant: maybe
- 9:43Annette Grant: you
- 9:43Annette Grant: are
- 9:43Annette Grant: doing
- 9:43Annette Grant: the
- 9:43Annette Grant: cleaning,
- 9:43Annette Grant: but
- 9:44Annette Grant: it's
- 9:44Annette Grant: not
- 9:44Annette Grant: daily,
- 9:44Annette Grant: it's
- 9:45Annette Grant: just
- 9:45Annette Grant: before
- 9:46Annette Grant: and
- 9:46Annette Grant: after
- 9:46Annette Grant: stays.
- 9:47Annette Grant: Um,
- 9:48Annette Grant: you
- 9:48Annette Grant: know,
- 9:48Annette Grant: maybe
- 9:48Annette Grant: you
- 9:48Annette Grant: do
- 9:48Annette Grant: have
- 9:48Annette Grant: more
- 9:49Annette Grant: of
- 9:49Annette Grant: a
- 9:49Annette Grant: bed
- 9:49Annette Grant: and
- 9:49Annette Grant: breakfast
- 9:49Annette Grant: type
- 9:50Annette Grant: scenario,
- 9:51Annette Grant: which
- 9:51Annette Grant: I
- 9:51Annette Grant: know
- 9:51Annette Grant: a
- 9:51Annette Grant: lot
- 9:52Annette Grant: of
- 9:52Annette Grant: hosts
- 9:52Annette Grant: are
- 9:52Annette Grant: interested
- 9:52Annette Grant: in.
- 9:52Annette Grant: So
- 9:53Annette Grant: make
- 9:53Annette Grant: sure
- 9:53Annette Grant: to
- 9:53Annette Grant: check
- 9:53Annette Grant: it
- 9:53Annette Grant: out.
- 9:54Sarah Karakaian: Makes
- 9:54Sarah Karakaian: things
- 9:54Sarah Karakaian: different.
- 9:55Sarah Karakaian: Alright,
- 9:55Sarah Karakaian: so
- 9:56Sarah Karakaian: to
- 9:56Sarah Karakaian: recap,
- 9:56Sarah Karakaian: mistake
- 9:57Sarah Karakaian: number
- 9:57Sarah Karakaian: one,
- 9:58Sarah Karakaian: how
- 9:58Sarah Karakaian: to
- 9:58Sarah Karakaian: avoid
- 9:59Sarah Karakaian: these
- 9:59Sarah Karakaian: mistakes,
- 9:59Sarah Karakaian: right?
- 10:00Sarah Karakaian: Track
- 10:01Sarah Karakaian: your
- 10:01Sarah Karakaian: average
- 10:01Sarah Karakaian: guest.
- 10:02Sarah Karakaian: Length
- 10:03Sarah Karakaian: of
- 10:03Sarah Karakaian: stay
- 10:04Sarah Karakaian: because
- 10:04Sarah Karakaian: if
- 10:04Sarah Karakaian: you
- 10:04Sarah Karakaian: are
- 10:04Sarah Karakaian: seven
- 10:05Sarah Karakaian: days
- 10:05Sarah Karakaian: or
- 10:06Sarah Karakaian: less,
- 10:06Sarah Karakaian: you
- 10:07Sarah Karakaian: can
- 10:07Sarah Karakaian: take
- 10:07Sarah Karakaian: potentially
- 10:08Sarah Karakaian: full
- 10:08Sarah Karakaian: advantage
- 10:09Sarah Karakaian: of
- 10:09Sarah Karakaian: the
- 10:09Sarah Karakaian: tax
- 10:09Sarah Karakaian: benefits.
- 10:10Sarah Karakaian: Also,
- 10:11Sarah Karakaian: understand
- 10:12Sarah Karakaian: what
- 10:12Sarah Karakaian: services
- 10:12Sarah Karakaian: you
- 10:13Sarah Karakaian: provide.
- 10:14Sarah Karakaian: If
- 10:14Sarah Karakaian: you
- 10:14Sarah Karakaian: go
- 10:14Sarah Karakaian: above
- 10:14Sarah Karakaian: and
- 10:14Sarah Karakaian: beyond
- 10:15Sarah Karakaian: basic
- 10:15Sarah Karakaian: lodging,
- 10:16Sarah Karakaian: like
- 10:16Sarah Karakaian: providing
- 10:17Sarah Karakaian: meals,
- 10:18Sarah Karakaian: everyday
- 10:18Sarah Karakaian: cleaning,
- 10:19Sarah Karakaian: maybe
- 10:20Sarah Karakaian: intense
- 10:20Sarah Karakaian: concierge
- 10:21Sarah Karakaian: services,
- 10:22Sarah Karakaian: you
- 10:22Sarah Karakaian: could
- 10:22Sarah Karakaian: be.
- 10:23Sarah Karakaian: Uh,
- 10:24Sarah Karakaian: eligible
- 10:25Sarah Karakaian: to
- 10:25Sarah Karakaian: pay
- 10:25Sarah Karakaian: more
- 10:25Sarah Karakaian: taxes.
- 10:26Annette Grant: Yeah.
- 10:26Annette Grant: And
- 10:27Annette Grant: last
- 10:27Annette Grant: but
- 10:27Annette Grant: not
- 10:27Annette Grant: least,
- 10:28Annette Grant: please
- 10:28Annette Grant: work
- 10:29Annette Grant: with
- 10:29Annette Grant: A
- 10:29Annette Grant: CPA
- 10:30Annette Grant: who
- 10:30Annette Grant: specializes
- 10:31Annette Grant: in
- 10:32Annette Grant: short
- 10:32Annette Grant: term
- 10:32Annette Grant: rental
- 10:33Annette Grant: taxes.
- 10:34Annette Grant: We
- 10:34Annette Grant: mentioned
- 10:34Annette Grant: our
- 10:34Annette Grant: friend
- 10:35Annette Grant: Amanda
- 10:35Annette Grant: at
- 10:35Annette Grant: the
- 10:35Annette Grant: beginning
- 10:36Annette Grant: of
- 10:36Annette Grant: the
- 10:36Annette Grant: video
- 10:37Annette Grant: because
- 10:37Annette Grant: you
- 10:37Annette Grant: need
- 10:38Annette Grant: to
- 10:38Annette Grant: make
- 10:38Annette Grant: sure
- 10:38Annette Grant: that
- 10:39Annette Grant: this
- 10:39Annette Grant: income
- 10:40Annette Grant: is
- 10:40Annette Grant: classified
- 10:41Annette Grant: correctly
- 10:42Annette Grant: and
- 10:43Annette Grant: that
- 10:43Annette Grant: you
- 10:43Annette Grant: are
- 10:43Annette Grant: making
- 10:44Annette Grant: sure
- 10:44Annette Grant: that
- 10:44Annette Grant: you
- 10:44Annette Grant: are
- 10:44Annette Grant: covering
- 10:45Annette Grant: yourself
- 10:45Annette Grant: with
- 10:45Annette Grant: the,
- 10:45Annette Grant: you
- 10:45Annette Grant: know,
- 10:46Annette Grant: you're
- 10:46Annette Grant: getting
- 10:46Annette Grant: those
- 10:46Annette Grant: tax
- 10:47Annette Grant: benefits.
- 10:47Annette Grant: That
- 10:48Annette Grant: you're
- 10:48Annette Grant: working
- 10:48Annette Grant: so
- 10:48Annette Grant: hard
- 10:48Annette Grant: for.
- 10:49Sarah Karakaian: Yeah,
- 10:49Sarah Karakaian: you
- 10:49Sarah Karakaian: could
- 10:49Sarah Karakaian: potentially
- 10:50Sarah Karakaian: save
- 10:50Sarah Karakaian: thousands
- 10:51Sarah Karakaian: on
- 10:51Sarah Karakaian: your
- 10:51Sarah Karakaian: taxes
- 10:52Sarah Karakaian: each
- 10:52Sarah Karakaian: year
- 10:53Sarah Karakaian: if
- 10:53Sarah Karakaian: you
- 10:53Sarah Karakaian: align
- 10:54Sarah Karakaian: everything,
- 10:55Sarah Karakaian: just
- 10:55Sarah Karakaian: so.
- 10:57Sarah Karakaian: Mistake
- 10:57Sarah Karakaian: number
- 10:57Sarah Karakaian: two.
- 10:58Sarah Karakaian: Failing
- 10:59Sarah Karakaian: to
- 10:59Sarah Karakaian: track
- 11:00Sarah Karakaian: material
- 11:01Sarah Karakaian: participation.
- 11:05Annette Grant: If
- 11:05Annette Grant: you
- 11:05Annette Grant: actively
- 11:06Annette Grant: manage
- 11:06Annette Grant: your
- 11:07Annette Grant: short
- 11:07Annette Grant: term
- 11:07Annette Grant: rental
- 11:07Annette Grant: properties,
- 11:08Annette Grant: instead
- 11:09Annette Grant: of
- 11:09Annette Grant: hiring
- 11:09Annette Grant: a
- 11:09Annette Grant: property
- 11:10Annette Grant: manager,
- 11:10Annette Grant: you
- 11:11Annette Grant: may
- 11:11Annette Grant: qualify
- 11:12Annette Grant: for
- 11:12Annette Grant: these
- 11:12Annette Grant: tax
- 11:13Annette Grant: advantages,
- 11:13Annette Grant: but
- 11:14Annette Grant: only
- 11:14Annette Grant: if
- 11:15Annette Grant: you
- 11:15Annette Grant: prove
- 11:16Annette Grant: material
- 11:17Annette Grant: participation.
- 11:18Sarah Karakaian: It's
- 11:18Sarah Karakaian: so
- 11:18Sarah Karakaian: hard
- 11:18Sarah Karakaian: to
- 11:18Sarah Karakaian: say
- 11:19Sarah Karakaian: material
- 11:19Sarah Karakaian: participation,
- 11:20Annette Grant: and
- 11:22Annette Grant: it
- 11:22Annette Grant: might
- 11:22Annette Grant: be
- 11:22Annette Grant: hard
- 11:22Annette Grant: for
- 11:22Annette Grant: you
- 11:23Annette Grant: to
- 11:23Annette Grant: qualify
- 11:23Annette Grant: so
- 11:23Annette Grant: what
- 11:24Annette Grant: is
- 11:24Annette Grant: material
- 11:24Annette Grant: participation,
- 11:25Annette Grant: Sarah?
- 11:25Sarah Karakaian: Okay,
- 11:25Sarah Karakaian: so
- 11:25Sarah Karakaian: you
- 11:26Sarah Karakaian: have
- 11:26Sarah Karakaian: to
- 11:26Sarah Karakaian: prove
- 11:27Sarah Karakaian: that
- 11:27Sarah Karakaian: you're
- 11:27Sarah Karakaian: either
- 11:28Sarah Karakaian: involved
- 11:28Sarah Karakaian: in
- 11:28Sarah Karakaian: 500
- 11:29Sarah Karakaian: or
- 11:29Sarah Karakaian: more
- 11:30Sarah Karakaian: hours
- 11:31Sarah Karakaian: in
- 11:31Sarah Karakaian: the
- 11:31Sarah Karakaian: property.
- 11:32Sarah Karakaian: Or
- 11:33Sarah Karakaian: if
- 11:33Sarah Karakaian: you
- 11:33Sarah Karakaian: do
- 11:33Sarah Karakaian: have
- 11:33Sarah Karakaian: some
- 11:34Sarah Karakaian: help,
- 11:34Sarah Karakaian: you
- 11:35Sarah Karakaian: have
- 11:35Sarah Karakaian: to
- 11:35Sarah Karakaian: still
- 11:35Sarah Karakaian: work
- 11:36Sarah Karakaian: on
- 11:36Sarah Karakaian: it
- 11:36Sarah Karakaian: at
- 11:36Sarah Karakaian: least
- 11:36Sarah Karakaian: a
- 11:36Sarah Karakaian: hundred
- 11:37Sarah Karakaian: hours,
- 11:38Sarah Karakaian: and
- 11:38Sarah Karakaian: you
- 11:38Sarah Karakaian: have
- 11:39Sarah Karakaian: to
- 11:39Sarah Karakaian: work
- 11:39Sarah Karakaian: on
- 11:39Sarah Karakaian: it
- 11:40Sarah Karakaian: more
- 11:40Sarah Karakaian: than
- 11:41Sarah Karakaian: your
- 11:41Sarah Karakaian: help
- 11:41Sarah Karakaian: does.
- 11:42Sarah Karakaian: Mm-hmm.
- 11:42Sarah Karakaian: Now,
- 11:43Sarah Karakaian: proving
- 11:43Sarah Karakaian: material
- 11:44Sarah Karakaian: participation
- 11:45Sarah Karakaian: is
- 11:45Sarah Karakaian: a
- 11:45Sarah Karakaian: great
- 11:46Sarah Karakaian: strategy
- 11:47Sarah Karakaian: to
- 11:47Sarah Karakaian: offset
- 11:48Sarah Karakaian: the
- 11:48Sarah Karakaian: losses
- 11:49Sarah Karakaian: against
- 11:49Sarah Karakaian: your
- 11:50Sarah Karakaian: W2
- 11:50Sarah Karakaian: income,
- 11:51Sarah Karakaian: and
- 11:51Sarah Karakaian: this
- 11:51Sarah Karakaian: is
- 11:51Sarah Karakaian: a
- 11:51Sarah Karakaian: great
- 11:52Sarah Karakaian: strategy.
- 11:53Sarah Karakaian: If
- 11:53Sarah Karakaian: you
- 11:53Sarah Karakaian: are
- 11:53Sarah Karakaian: a
- 11:53Sarah Karakaian: high
- 11:54Sarah Karakaian: income
- 11:55Sarah Karakaian: earner
- 11:55Sarah Karakaian: on
- 11:55Sarah Karakaian: your
- 11:55Sarah Karakaian: W2,
- 11:56Sarah Karakaian: this
- 11:56Sarah Karakaian: is
- 11:57Sarah Karakaian: where
- 11:57Sarah Karakaian: it
- 11:57Sarah Karakaian: really
- 11:57Sarah Karakaian: comes
- 11:57Sarah Karakaian: into
- 11:57Sarah Karakaian: play.
- 11:58Sarah Karakaian: Okay,
- 11:59Sarah Karakaian: let's
- 11:59Sarah Karakaian: give
- 11:59Sarah Karakaian: you
- 11:59Sarah Karakaian: an
- 11:59Sarah Karakaian: example.
- 12:00Sarah Karakaian: Okay.
- 12:01Sarah Karakaian: You
- 12:01Sarah Karakaian: make
- 12:02Sarah Karakaian: a
- 12:02Sarah Karakaian: hundred
- 12:02Sarah Karakaian: thousand
- 12:02Sarah Karakaian: dollars
- 12:03Sarah Karakaian: at
- 12:03Sarah Karakaian: your
- 12:03Sarah Karakaian: W2.
- 12:04Sarah Karakaian: Your
- 12:05Sarah Karakaian: short
- 12:05Sarah Karakaian: term
- 12:05Sarah Karakaian: rental
- 12:06Sarah Karakaian: has
- 12:06Sarah Karakaian: $15,000
- 12:08Sarah Karakaian: in
- 12:08Sarah Karakaian: expenses.
- 12:09Sarah Karakaian: If
- 12:10Sarah Karakaian: you
- 12:10Sarah Karakaian: qualify
- 12:10Sarah Karakaian: for
- 12:11Sarah Karakaian: material
- 12:11Sarah Karakaian: participation,
- 12:12Sarah Karakaian: that
- 12:13Sarah Karakaian: is
- 12:13Sarah Karakaian: so
- 12:13Sarah Karakaian: hard
- 12:13Sarah Karakaian: to
- 12:13Sarah Karakaian: say,
- 12:14Sarah Karakaian: you
- 12:14Sarah Karakaian: can
- 12:15Sarah Karakaian: reduce
- 12:15Sarah Karakaian: your
- 12:15Sarah Karakaian: taxable
- 12:16Sarah Karakaian: income
- 12:16Sarah Karakaian: by
- 12:16Sarah Karakaian: that
- 12:16Sarah Karakaian: $15,000,
- 12:17Sarah Karakaian: reducing
- 12:18Sarah Karakaian: it
- 12:18Sarah Karakaian: to
- 12:18Sarah Karakaian: $85,000,
- 12:20Annette Grant: potentially
- 12:20Annette Grant: reduce
- 12:21Annette Grant: it,
- 12:21Sarah Karakaian: potentially
- 12:22Sarah Karakaian: talk
- 12:22Sarah Karakaian: to
- 12:22Sarah Karakaian: your
- 12:22Sarah Karakaian: CPA.
- 12:23Sarah Karakaian: Mm-hmm.
- 12:24Sarah Karakaian: What
- 12:24Sarah Karakaian: you
- 12:24Sarah Karakaian: need
- 12:25Sarah Karakaian: to
- 12:25Sarah Karakaian: do
- 12:25Sarah Karakaian: is
- 12:25Sarah Karakaian: track
- 12:26Sarah Karakaian: the
- 12:26Sarah Karakaian: time
- 12:27Sarah Karakaian: you
- 12:27Sarah Karakaian: spend
- 12:28Sarah Karakaian: on
- 12:28Sarah Karakaian: your
- 12:28Sarah Karakaian: short-term
- 12:28Sarah Karakaian: rentals.
- 12:29Sarah Karakaian: So
- 12:29Sarah Karakaian: maybe
- 12:29Sarah Karakaian: you
- 12:29Sarah Karakaian: have
- 12:29Sarah Karakaian: a
- 12:30Sarah Karakaian: log,
- 12:31Sarah Karakaian: something
- 12:31Sarah Karakaian: that
- 12:31Sarah Karakaian: you
- 12:31Sarah Karakaian: can
- 12:31Sarah Karakaian: prove
- 12:32Sarah Karakaian: the
- 12:32Sarah Karakaian: hours
- 12:32Sarah Karakaian: you
- 12:32Sarah Karakaian: spent
- 12:33Sarah Karakaian: with
- 12:33Sarah Karakaian: guest
- 12:33Sarah Karakaian: messaging,
- 12:34Sarah Karakaian: maintenance,
- 12:35Sarah Karakaian: bookkeeping.
- 12:37Sarah Karakaian: If
- 12:37Sarah Karakaian: you
- 12:37Sarah Karakaian: have
- 12:37Sarah Karakaian: a
- 12:37Sarah Karakaian: full-blown
- 12:38Sarah Karakaian: property
- 12:38Sarah Karakaian: manager,
- 12:39Sarah Karakaian: you
- 12:39Sarah Karakaian: likely
- 12:40Sarah Karakaian: won't
- 12:40Sarah Karakaian: qualify,
- 12:41Sarah Karakaian: but
- 12:42Sarah Karakaian: if
- 12:42Sarah Karakaian: you
- 12:42Sarah Karakaian: manage
- 12:42Sarah Karakaian: yourself,
- 12:43Sarah Karakaian: this
- 12:43Sarah Karakaian: could
- 12:43Sarah Karakaian: be
- 12:44Sarah Karakaian: a
- 12:44Sarah Karakaian: great
- 12:44Sarah Karakaian: tax
- 12:45Sarah Karakaian: saving
- 12:45Sarah Karakaian: strategy.
- 12:47Annette Grant: Mistake
- 12:47Annette Grant: number
- 12:48Annette Grant: three,
- 12:48Annette Grant: ignoring
- 12:49Annette Grant: depreciation
- 12:50Annette Grant: deductions.
- 12:52Sarah Karakaian: Depreciation
- 12:53Sarah Karakaian: is
- 12:53Sarah Karakaian: one
- 12:53Sarah Karakaian: of
- 12:53Sarah Karakaian: the
- 12:54Sarah Karakaian: biggest
- 12:54Sarah Karakaian: tax
- 12:54Sarah Karakaian: benefits
- 12:55Sarah Karakaian: for
- 12:55Sarah Karakaian: STR
- 12:55Sarah Karakaian: hosts,
- 12:56Sarah Karakaian: yet
- 12:56Sarah Karakaian: many
- 12:56Sarah Karakaian: fail
- 12:57Sarah Karakaian: to
- 12:57Sarah Karakaian: take
- 12:57Sarah Karakaian: full
- 12:57Sarah Karakaian: advantage
- 12:58Sarah Karakaian: of
- 12:58Sarah Karakaian: it.
- 12:58Sarah Karakaian: So
- 12:58Sarah Karakaian: here
- 12:58Sarah Karakaian: are
- 12:58Sarah Karakaian: the
- 12:59Sarah Karakaian: basics.
- 13:00Sarah Karakaian: The
- 13:00Sarah Karakaian: IRS
- 13:00Sarah Karakaian: allows
- 13:01Sarah Karakaian: hosts
- 13:01Sarah Karakaian: to
- 13:02Sarah Karakaian: take
- 13:03Sarah Karakaian: a
- 13:03Sarah Karakaian: portion
- 13:04Sarah Karakaian: of
- 13:04Sarah Karakaian: their
- 13:04Sarah Karakaian: property's
- 13:05Sarah Karakaian: value,
- 13:05Sarah Karakaian: a
- 13:05Sarah Karakaian: deduction
- 13:06Sarah Karakaian: up
- 13:06Sarah Karakaian: from
- 13:06Sarah Karakaian: it
- 13:07Sarah Karakaian: for
- 13:07Sarah Karakaian: every
- 13:07Sarah Karakaian: year
- 13:08Sarah Karakaian: up
- 13:08Sarah Karakaian: to
- 13:08Sarah Karakaian: 39
- 13:09Sarah Karakaian: years.
- 13:09Sarah Karakaian: Even
- 13:10Sarah Karakaian: if
- 13:10Sarah Karakaian: your
- 13:10Sarah Karakaian: property
- 13:10Sarah Karakaian: appreciates,
- 13:11Sarah Karakaian: you
- 13:11Sarah Karakaian: can
- 13:12Sarah Karakaian: still
- 13:12Sarah Karakaian: take
- 13:12Sarah Karakaian: advantage
- 13:12Sarah Karakaian: of
- 13:13Sarah Karakaian: this
- 13:13Sarah Karakaian: tax
- 13:13Sarah Karakaian: benefit.
- 13:15Sarah Karakaian: Okay,
- 13:15Sarah Karakaian: this
- 13:15Sarah Karakaian: is
- 13:16Sarah Karakaian: why
- 13:16Sarah Karakaian: this
- 13:16Sarah Karakaian: matters
- 13:17Sarah Karakaian: because
- 13:17Sarah Karakaian: depreciation
- 13:18Sarah Karakaian: can
- 13:18Sarah Karakaian: be
- 13:18Sarah Karakaian: one
- 13:18Sarah Karakaian: of
- 13:18Sarah Karakaian: the
- 13:19Sarah Karakaian: biggest
- 13:19Sarah Karakaian: benefits
- 13:19Sarah Karakaian: to
- 13:20Sarah Karakaian: short-term
- 13:20Sarah Karakaian: rental
- 13:20Sarah Karakaian: hosts,
- 13:21Sarah Karakaian: often
- 13:21Sarah Karakaian: leading
- 13:21Sarah Karakaian: to
- 13:21Sarah Karakaian: tens
- 13:22Sarah Karakaian: of
- 13:22Sarah Karakaian: thousands
- 13:23Sarah Karakaian: of
- 13:23Sarah Karakaian: deductions
- 13:24Sarah Karakaian: each
- 13:24Sarah Karakaian: year.
- 13:26Sarah Karakaian: And
- 13:26Sarah Karakaian: if
- 13:26Sarah Karakaian: you
- 13:26Sarah Karakaian: make
- 13:26Sarah Karakaian: major
- 13:27Sarah Karakaian: upgrades,
- 13:28Sarah Karakaian: so
- 13:28Sarah Karakaian: from
- 13:28Sarah Karakaian: the
- 13:28Sarah Karakaian: drywall
- 13:29Sarah Karakaian: in,
- 13:30Sarah Karakaian: make
- 13:30Sarah Karakaian: sure
- 13:30Sarah Karakaian: you're
- 13:30Sarah Karakaian: tracking
- 13:31Sarah Karakaian: this
- 13:31Sarah Karakaian: 'cause
- 13:31Sarah Karakaian: you
- 13:32Sarah Karakaian: might
- 13:32Sarah Karakaian: qualify
- 13:33Sarah Karakaian: for
- 13:33Sarah Karakaian: bonus
- 13:34Sarah Karakaian: depreciation,
- 13:35Sarah Karakaian: which
- 13:35Sarah Karakaian: is
- 13:35Sarah Karakaian: even
- 13:35Sarah Karakaian: more
- 13:36Sarah Karakaian: savings.
- 13:39Annette Grant: It's
- 13:40Annette Grant: always
- 13:41Annette Grant: important
- 13:41Annette Grant: to
- 13:41Annette Grant: keep
- 13:41Annette Grant: track
- 13:42Annette Grant: of
- 13:42Annette Grant: all
- 13:42Annette Grant: of
- 13:43Annette Grant: your
- 13:43Annette Grant: expenses,
- 13:43Annette Grant: but
- 13:43Annette Grant: especially
- 13:44Annette Grant: when
- 13:44Annette Grant: we're
- 13:44Annette Grant: talking
- 13:44Annette Grant: about
- 13:44Annette Grant: this
- 13:44Annette Grant: bonus
- 13:45Annette Grant: depreciation,
- 13:46Annette Grant: make
- 13:46Annette Grant: sure
- 13:46Annette Grant: anything
- 13:47Annette Grant: that
- 13:47Annette Grant: you're
- 13:47Annette Grant: doing,
- 13:47Annette Grant: let's
- 13:47Annette Grant: say
- 13:48Annette Grant: appliances,
- 13:48Annette Grant: flooring,
- 13:49Annette Grant: furniture,
- 13:49Annette Grant: anything
- 13:50Annette Grant: that
- 13:50Annette Grant: might
- 13:50Annette Grant: be
- 13:50Annette Grant: included,
- 13:51Annette Grant: you
- 13:51Annette Grant: wanna
- 13:51Annette Grant: make
- 13:51Annette Grant: sure
- 13:52Annette Grant: that
- 13:52Annette Grant: you're
- 13:52Annette Grant: tracking
- 13:53Annette Grant: that.
- 13:53Annette Grant: Of
- 13:53Annette Grant: course,
- 13:54Annette Grant: you're
- 13:54Annette Grant: gonna
- 13:54Annette Grant: wanna
- 13:54Annette Grant: let
- 13:54Annette Grant: your
- 13:54Annette Grant: CPA
- 13:55Annette Grant: decide,
- 13:56Annette Grant: but
- 13:57Annette Grant: this
- 13:57Annette Grant: is
- 13:57Annette Grant: where
- 13:57Annette Grant: you
- 13:57Annette Grant: really
- 13:57Annette Grant: do
- 13:57Annette Grant: wanna
- 13:58Annette Grant: keep,
- 13:58Annette Grant: uh,
- 13:58Annette Grant: meticulous
- 13:59Annette Grant: records.
- 13:59Sarah Karakaian: So
- 14:00Sarah Karakaian: work
- 14:00Sarah Karakaian: with
- 14:00Sarah Karakaian: your
- 14:00Sarah Karakaian: CPA
- 14:01Sarah Karakaian: to
- 14:01Sarah Karakaian: set
- 14:02Sarah Karakaian: up
- 14:02Sarah Karakaian: a
- 14:02Sarah Karakaian: depreciation
- 14:03Sarah Karakaian: schedule
- 14:03Sarah Karakaian: for
- 14:04Sarah Karakaian: your
- 14:04Sarah Karakaian: short-term
- 14:04Sarah Karakaian: rental.
- 14:05Sarah Karakaian: And
- 14:05Sarah Karakaian: like
- 14:05Sarah Karakaian: Annette
- 14:05Sarah Karakaian: said:
- 14:06Sarah Karakaian: track
- 14:07Sarah Karakaian: everything,
- 14:07Sarah Karakaian: even
- 14:08Sarah Karakaian: if
- 14:08Sarah Karakaian: you're
- 14:08Sarah Karakaian: not
- 14:08Sarah Karakaian: sure.
- 14:09Sarah Karakaian: Mm-hmm.
- 14:09Sarah Karakaian: So
- 14:09Sarah Karakaian: when
- 14:09Sarah Karakaian: it
- 14:09Sarah Karakaian: comes
- 14:10Sarah Karakaian: time
- 14:10Sarah Karakaian: to
- 14:10Sarah Karakaian: decide
- 14:10Sarah Karakaian: whether
- 14:11Sarah Karakaian: you
- 14:11Sarah Karakaian: are
- 14:11Sarah Karakaian: eligible
- 14:11Sarah Karakaian: for
- 14:12Sarah Karakaian: a
- 14:12Sarah Karakaian: bonus
- 14:13Sarah Karakaian: depreciation,
- 14:14Sarah Karakaian: um,
- 14:14Sarah Karakaian: you
- 14:14Sarah Karakaian: have
- 14:15Sarah Karakaian: the
- 14:15Sarah Karakaian: receipts,
- 14:16Sarah Karakaian: the
- 14:16Sarah Karakaian: work,
- 14:16Sarah Karakaian: the
- 14:16Sarah Karakaian: pictures,
- 14:17Sarah Karakaian: all
- 14:17Sarah Karakaian: of
- 14:17Sarah Karakaian: that,
- 14:17Sarah Karakaian: that
- 14:18Sarah Karakaian: you
- 14:18Sarah Karakaian: can
- 14:18Sarah Karakaian: provide.
- 14:19Sarah Karakaian: Mistake
- 14:20Sarah Karakaian: number
- 14:20Sarah Karakaian: four,
- 14:21Sarah Karakaian: not
- 14:21Sarah Karakaian: reporting
- 14:22Sarah Karakaian: personal
- 14:23Sarah Karakaian: use
- 14:23Sarah Karakaian: accurately.
- 14:24Sarah Karakaian: Ooh.
- 14:26Annette Grant: If
- 14:27Annette Grant: you,
- 14:27Annette Grant: your
- 14:27Annette Grant: family
- 14:28Annette Grant: or
- 14:28Annette Grant: friends
- 14:28Annette Grant: are
- 14:28Annette Grant: using
- 14:29Annette Grant: the
- 14:29Annette Grant: property
- 14:30Annette Grant: for
- 14:30Annette Grant: personal
- 14:30Annette Grant: use,
- 14:31Annette Grant: you
- 14:32Annette Grant: must
- 14:33Annette Grant: record
- 14:33Annette Grant: this
- 14:35Annette Grant: and.
- 14:36Annette Grant: Why
- 14:36Annette Grant: does
- 14:36Annette Grant: it
- 14:36Annette Grant: matter?
- 14:36Annette Grant: Well,
- 14:37Annette Grant: there
- 14:37Annette Grant: are
- 14:37Annette Grant: IRS
- 14:37Annette Grant: rules
- 14:38Annette Grant: around
- 14:38Annette Grant: this.
- 14:39Annette Grant: You
- 14:39Annette Grant: cannot
- 14:39Annette Grant: use
- 14:40Annette Grant: the
- 14:40Annette Grant: property
- 14:40Annette Grant: for
- 14:40Annette Grant: more
- 14:41Annette Grant: than
- 14:41Annette Grant: 14
- 14:41Annette Grant: days
- 14:42Annette Grant: or
- 14:42Annette Grant: 10%
- 14:43Annette Grant: of
- 14:43Annette Grant: the
- 14:43Annette Grant: total
- 14:44Annette Grant: rental
- 14:44Annette Grant: days
- 14:45Annette Grant: allowed.
- 14:46Annette Grant: And
- 14:47Annette Grant: you
- 14:47Annette Grant: might,
- 14:47Annette Grant: at
- 14:48Annette Grant: this
- 14:48Annette Grant: point
- 14:48Annette Grant: in
- 14:48Annette Grant: time,
- 14:49Annette Grant: disqualify
- 14:49Annette Grant: for
- 14:49Annette Grant: those
- 14:50Annette Grant: deductions.
- 14:52Annette Grant: And
- 14:52Annette Grant: you
- 14:52Annette Grant: know,
- 14:52Annette Grant: why
- 14:53Annette Grant: does
- 14:53Annette Grant: this
- 14:53Annette Grant: matter?
- 14:54Annette Grant: Like
- 14:54Annette Grant: just
- 14:54Annette Grant: if
- 14:54Annette Grant: you
- 14:54Annette Grant: kind
- 14:55Annette Grant: of
- 14:55Annette Grant: just
- 14:55Annette Grant: step
- 14:55Annette Grant: back
- 14:56Annette Grant: and
- 14:56Annette Grant: think
- 14:56Annette Grant: about
- 14:57Annette Grant: it.
- 14:58Annette Grant: You
- 14:58Annette Grant: can't
- 14:58Annette Grant: be
- 14:58Annette Grant: double
- 14:59Annette Grant: dipping.
- 15:00Annette Grant: You
- 15:00Annette Grant: know,
- 15:00Annette Grant: you,
- 15:00Annette Grant: you're
- 15:00Annette Grant: like,
- 15:01Annette Grant: you're
- 15:01Annette Grant: trying
- 15:01Annette Grant: to
- 15:01Annette Grant: get
- 15:01Annette Grant: the
- 15:01Annette Grant: write
- 15:02Annette Grant: offs,
- 15:02Annette Grant: but
- 15:02Annette Grant: then
- 15:02Annette Grant: you're
- 15:02Annette Grant: trying
- 15:03Annette Grant: to
- 15:03Annette Grant: use
- 15:03Annette Grant: it
- 15:03Annette Grant: for
- 15:03Annette Grant: all
- 15:03Annette Grant: this
- 15:04Annette Grant: personal
- 15:04Annette Grant: family
- 15:04Annette Grant: and
- 15:05Annette Grant: friends.
- 15:05Annette Grant: Fun.
- 15:06Annette Grant: This
- 15:06Annette Grant: is
- 15:06Annette Grant: going
- 15:06Annette Grant: to
- 15:07Annette Grant: be
- 15:07Annette Grant: a
- 15:08Annette Grant: huge
- 15:08Annette Grant: red
- 15:08Annette Grant: flag
- 15:09Annette Grant: if
- 15:09Annette Grant: the
- 15:09Annette Grant: IRS
- 15:10Annette Grant: ever
- 15:11Annette Grant: audits
- 15:11Annette Grant: you.
- 15:11Annette Grant: Mm-hmm.
- 15:11Annette Grant: So
- 15:12Annette Grant: this
- 15:12Annette Grant: is
- 15:12Annette Grant: where
- 15:12Annette Grant: it's
- 15:12Annette Grant: really
- 15:12Annette Grant: important
- 15:13Annette Grant: that
- 15:13Annette Grant: you
- 15:13Annette Grant: wanna
- 15:13Annette Grant: keep
- 15:14Annette Grant: records.
- 15:14Annette Grant: Um,
- 15:15Annette Grant: and
- 15:15Annette Grant: we
- 15:15Annette Grant: all,
- 15:15Annette Grant: you
- 15:15Annette Grant: know,
- 15:16Annette Grant: we
- 15:16Annette Grant: have
- 15:16Annette Grant: a
- 15:16Annette Grant: coaching
- 15:16Annette Grant: program
- 15:16Annette Grant: where
- 15:17Annette Grant: we
- 15:17Annette Grant: always
- 15:17Annette Grant: tell
- 15:17Annette Grant: everybody,
- 15:18Annette Grant: you
- 15:18Annette Grant: know,
- 15:18Annette Grant: every
- 15:19Annette Grant: month
- 15:19Annette Grant: when
- 15:19Annette Grant: you're
- 15:19Annette Grant: looking
- 15:19Annette Grant: at
- 15:19Annette Grant: it,
- 15:19Annette Grant: obviously
- 15:20Annette Grant: you
- 15:20Annette Grant: have
- 15:20Annette Grant: your
- 15:20Annette Grant: rental
- 15:20Annette Grant: days,
- 15:21Annette Grant: but
- 15:21Annette Grant: keep
- 15:21Annette Grant: track
- 15:22Annette Grant: of
- 15:22Annette Grant: the
- 15:22Annette Grant: exact
- 15:23Annette Grant: days
- 15:24Annette Grant: that.
- 15:24Annette Grant: If
- 15:25Annette Grant: you
- 15:25Annette Grant: did
- 15:25Annette Grant: use
- 15:25Annette Grant: the
- 15:25Annette Grant: property
- 15:26Annette Grant: that's
- 15:26Annette Grant: in
- 15:26Annette Grant: there.
- 15:26Annette Grant: 'cause
- 15:26Annette Grant: number
- 15:27Annette Grant: one,
- 15:27Annette Grant: you
- 15:27Annette Grant: wanna
- 15:27Annette Grant: know
- 15:27Annette Grant: how
- 15:28Annette Grant: many
- 15:28Annette Grant: days,
- 15:28Annette Grant: um,
- 15:29Annette Grant: you
- 15:29Annette Grant: were
- 15:29Annette Grant: using
- 15:30Annette Grant: it
- 15:30Annette Grant: and
- 15:30Annette Grant: what
- 15:30Annette Grant: that
- 15:30Annette Grant: potential
- 15:30Annette Grant: revenue
- 15:31Annette Grant: you
- 15:31Annette Grant: lost
- 15:32Annette Grant: for
- 15:32Annette Grant: your
- 15:32Annette Grant: personal
- 15:32Annette Grant: usage.
- 15:33Annette Grant: But
- 15:33Annette Grant: again,
- 15:34Annette Grant: make
- 15:34Annette Grant: sure
- 15:34Annette Grant: to
- 15:34Annette Grant: track
- 15:34Annette Grant: it.
- 15:35Annette Grant: Have
- 15:35Annette Grant: it
- 15:35Annette Grant: in
- 15:36Annette Grant: your
- 15:36Annette Grant: records
- 15:36Annette Grant: that
- 15:37Annette Grant: if
- 15:37Annette Grant: you
- 15:37Annette Grant: are
- 15:38Annette Grant: ever
- 15:38Annette Grant: audited,
- 15:38Annette Grant: you
- 15:38Annette Grant: know
- 15:39Annette Grant: where
- 15:39Annette Grant: you're
- 15:39Annette Grant: at.
- 15:39Annette Grant: And
- 15:40Annette Grant: also
- 15:40Annette Grant: talk
- 15:40Annette Grant: to
- 15:40Annette Grant: your
- 15:40Annette Grant: CPA
- 15:42Annette Grant: about
- 15:42Annette Grant: that.
- 15:42Annette Grant: If
- 15:43Annette Grant: you
- 15:43Annette Grant: know
- 15:43Annette Grant: you
- 15:43Annette Grant: are
- 15:44Annette Grant: planning,
- 15:44Annette Grant: um,
- 15:45Annette Grant: this
- 15:45Annette Grant: is
- 15:45Annette Grant: before
- 15:45Annette Grant: maybe
- 15:45Annette Grant: you
- 15:46Annette Grant: even
- 15:46Annette Grant: purchase
- 15:46Annette Grant: or
- 15:46Annette Grant: after
- 15:47Annette Grant: you've
- 15:47Annette Grant: purchased,
- 15:47Annette Grant: like,
- 15:47Annette Grant: Hey,
- 15:47Annette Grant: this
- 15:48Annette Grant: year
- 15:48Annette Grant: we're
- 15:48Annette Grant: planning
- 15:49Annette Grant: on
- 15:49Annette Grant: using
- 15:49Annette Grant: this
- 15:49Annette Grant: property
- 15:50Annette Grant: a
- 15:50Annette Grant: lot
- 15:51Annette Grant: more,
- 15:51Annette Grant: um,
- 15:52Annette Grant: this
- 15:52Annette Grant: summer
- 15:52Annette Grant: or
- 15:53Annette Grant: this
- 15:53Annette Grant: winter.
- 15:53Annette Grant: Have
- 15:53Annette Grant: that
- 15:54Annette Grant: conversation
- 15:54Annette Grant: and
- 15:54Annette Grant: see
- 15:55Annette Grant: what
- 15:55Annette Grant: that
- 15:55Annette Grant: would
- 15:55Annette Grant: do
- 15:56Annette Grant: to
- 15:56Annette Grant: your
- 15:57Annette Grant: tax
- 15:57Annette Grant: deductions.
- 15:59Annette Grant: Mistake
- 16:00Annette Grant: number
- 16:00Annette Grant: five
- 16:01Annette Grant: is
- 16:01Annette Grant: you're
- 16:01Annette Grant: overlooking
- 16:03Annette Grant: those
- 16:03Annette Grant: state
- 16:04Annette Grant: and
- 16:04Annette Grant: local
- 16:05Annette Grant: taxes.
- 16:07Annette Grant: Many
- 16:07Annette Grant: hosts
- 16:07Annette Grant: just
- 16:08Annette Grant: focus
- 16:08Annette Grant: on
- 16:09Annette Grant: federal
- 16:10Annette Grant: taxes
- 16:10Annette Grant: instead
- 16:11Annette Grant: of
- 16:11Annette Grant: looking
- 16:11Annette Grant: at
- 16:12Annette Grant: that,
- 16:12Annette Grant: uh,
- 16:13Annette Grant: local,
- 16:14Annette Grant: state
- 16:15Annette Grant: and
- 16:16Annette Grant: city
- 16:16Annette Grant: tax.
- 16:17Annette Grant: And
- 16:17Annette Grant: this
- 16:17Annette Grant: is
- 16:17Annette Grant: so
- 16:17Annette Grant: important.
- 16:17Annette Grant: There
- 16:18Annette Grant: are
- 16:18Annette Grant: so
- 16:18Annette Grant: many
- 16:19Annette Grant: short
- 16:19Annette Grant: term
- 16:19Annette Grant: rental
- 16:20Annette Grant: hosts
- 16:20Annette Grant: that
- 16:20Annette Grant: are
- 16:20Annette Grant: out
- 16:21Annette Grant: of
- 16:21Annette Grant: state
- 16:21Annette Grant: and
- 16:22Annette Grant: investors,
- 16:22Annette Grant: right?
- 16:22Annette Grant: So
- 16:23Annette Grant: that
- 16:23Annette Grant: adds
- 16:23Annette Grant: that
- 16:23Annette Grant: additional
- 16:24Annette Grant: layer.
- 16:24Annette Grant: So
- 16:24Annette Grant: again,
- 16:25Annette Grant: we
- 16:25Annette Grant: just
- 16:25Annette Grant: wanna
- 16:25Annette Grant: make
- 16:25Annette Grant: sure
- 16:25Annette Grant: that
- 16:25Annette Grant: you're
- 16:25Annette Grant: paying
- 16:26Annette Grant: attention
- 16:26Annette Grant: to
- 16:26Annette Grant: your
- 16:26Annette Grant: state
- 16:27Annette Grant: and
- 16:27Annette Grant: local
- 16:27Annette Grant: taxes,
- 16:28Annette Grant: and
- 16:28Annette Grant: we're
- 16:28Annette Grant: going
- 16:28Annette Grant: to
- 16:29Annette Grant: explain
- 16:29Annette Grant: to
- 16:29Annette Grant: you
- 16:29Annette Grant: what
- 16:29Annette Grant: some
- 16:29Annette Grant: of
- 16:30Annette Grant: those
- 16:30Annette Grant: could
- 16:30Annette Grant: be.
- 16:30Sarah Karakaian: Yeah,
- 16:31Sarah Karakaian: they
- 16:31Sarah Karakaian: are.
- 16:31Sarah Karakaian: The
- 16:31Sarah Karakaian: occup
- 16:32Sarah Karakaian: occupancy
- 16:32Sarah Karakaian: tax.
- 16:33Sarah Karakaian: Sales
- 16:34Sarah Karakaian: tax
- 16:34Sarah Karakaian: and
- 16:34Sarah Karakaian: tourism
- 16:35Sarah Karakaian: tax.
- 16:35Sarah Karakaian: Now,
- 16:36Sarah Karakaian: your
- 16:36Sarah Karakaian: area
- 16:37Sarah Karakaian: might
- 16:37Sarah Karakaian: not
- 16:37Sarah Karakaian: have
- 16:37Sarah Karakaian: all
- 16:37Sarah Karakaian: three.
- 16:38Sarah Karakaian: They
- 16:38Sarah Karakaian: might
- 16:38Sarah Karakaian: have
- 16:38Sarah Karakaian: two
- 16:38Sarah Karakaian: or
- 16:38Sarah Karakaian: three,
- 16:39Sarah Karakaian: one
- 16:39Sarah Karakaian: of
- 16:39Sarah Karakaian: the
- 16:39Sarah Karakaian: three,
- 16:39Sarah Karakaian: whatever.
- 16:40Sarah Karakaian: But
- 16:40Sarah Karakaian: it
- 16:40Sarah Karakaian: is
- 16:40Sarah Karakaian: up
- 16:41Sarah Karakaian: to
- 16:41Sarah Karakaian: you
- 16:41Sarah Karakaian: to
- 16:41Sarah Karakaian: know,
- 16:42Sarah Karakaian: and
- 16:42Sarah Karakaian: if
- 16:42Sarah Karakaian: you
- 16:42Sarah Karakaian: own
- 16:43Sarah Karakaian: multiple
- 16:43Sarah Karakaian: short
- 16:44Sarah Karakaian: term
- 16:44Sarah Karakaian: rentals
- 16:44Sarah Karakaian: in
- 16:44Sarah Karakaian: different
- 16:45Sarah Karakaian: areas,
- 16:46Sarah Karakaian: even
- 16:46Sarah Karakaian: within
- 16:46Sarah Karakaian: the
- 16:46Sarah Karakaian: same
- 16:47Sarah Karakaian: state,
- 16:47Sarah Karakaian: like
- 16:47Sarah Karakaian: this
- 16:48Sarah Karakaian: could
- 16:48Sarah Karakaian: differ
- 16:49Sarah Karakaian: and
- 16:49Sarah Karakaian: it's
- 16:49Sarah Karakaian: up
- 16:49Sarah Karakaian: to
- 16:49Sarah Karakaian: you
- 16:50Sarah Karakaian: to
- 16:50Sarah Karakaian: keep
- 16:50Sarah Karakaian: track.
- 16:52Sarah Karakaian: So
- 16:52Sarah Karakaian: this
- 16:52Sarah Karakaian: matters
- 16:53Sarah Karakaian: because
- 16:53Sarah Karakaian: failing
- 16:54Sarah Karakaian: obviously
- 16:54Sarah Karakaian: pay,
- 16:54Sarah Karakaian: failing
- 16:55Sarah Karakaian: to
- 16:55Sarah Karakaian: pay
- 16:55Sarah Karakaian: state
- 16:56Sarah Karakaian: and
- 16:56Sarah Karakaian: local
- 16:56Sarah Karakaian: taxes.
- 16:57Sarah Karakaian: You
- 16:57Sarah Karakaian: can
- 16:57Sarah Karakaian: incur
- 16:57Sarah Karakaian: penalties
- 16:59Sarah Karakaian: and
- 16:59Sarah Karakaian: pay
- 16:59Sarah Karakaian: fines
- 17:00Sarah Karakaian: and
- 17:00Sarah Karakaian: that
- 17:00Sarah Karakaian: offsets
- 17:01Sarah Karakaian: any
- 17:01Sarah Karakaian: of
- 17:01Sarah Karakaian: the
- 17:01Sarah Karakaian: tax
- 17:01Sarah Karakaian: savings
- 17:02Sarah Karakaian: that
- 17:02Sarah Karakaian: you've
- 17:02Sarah Karakaian: done
- 17:02Sarah Karakaian: up
- 17:02Sarah Karakaian: until
- 17:02Sarah Karakaian: this
- 17:02Sarah Karakaian: point.
- 17:03Sarah Karakaian: And
- 17:03Sarah Karakaian: a
- 17:04Sarah Karakaian: common
- 17:04Sarah Karakaian: misconception
- 17:05Sarah Karakaian: is
- 17:05Sarah Karakaian: a
- 17:05Sarah Karakaian: lot,
- 17:05Sarah Karakaian: we
- 17:06Sarah Karakaian: hear
- 17:06Sarah Karakaian: a
- 17:06Sarah Karakaian: lot
- 17:06Sarah Karakaian: of
- 17:06Sarah Karakaian: hosts
- 17:06Sarah Karakaian: think
- 17:07Sarah Karakaian: that
- 17:07Sarah Karakaian: Airbnb,
- 17:08Sarah Karakaian: or
- 17:08Sarah Karakaian: vrbo,
- 17:09Sarah Karakaian: booking.com,
- 17:09Sarah Karakaian: wherever
- 17:10Sarah Karakaian: they're
- 17:10Sarah Karakaian: listing,
- 17:11Sarah Karakaian: that
- 17:11Sarah Karakaian: those
- 17:12Sarah Karakaian: platforms
- 17:13Sarah Karakaian: are
- 17:13Sarah Karakaian: remitting
- 17:13Sarah Karakaian: the
- 17:13Sarah Karakaian: taxes
- 17:14Sarah Karakaian: for
- 17:14Sarah Karakaian: them.
- 17:14Sarah Karakaian: Mm-hmm.
- 17:15Annette Grant: And
- 17:15Annette Grant: sometimes
- 17:15Annette Grant: in
- 17:16Annette Grant: some
- 17:16Annette Grant: areas
- 17:16Annette Grant: that's
- 17:16Annette Grant: correct.
- 17:17Annette Grant: Sometimes
- 17:17Annette Grant: it
- 17:17Annette Grant: isn't.
- 17:18Annette Grant: But
- 17:18Annette Grant: you.
- 17:19Annette Grant: Are
- 17:19Annette Grant: responsible.
- 17:20Annette Grant: This
- 17:20Annette Grant: is
- 17:20Annette Grant: not
- 17:20Annette Grant: something
- 17:20Annette Grant: where
- 17:21Annette Grant: you
- 17:21Annette Grant: can
- 17:21Annette Grant: like
- 17:21Annette Grant: throw
- 17:22Annette Grant: your
- 17:22Annette Grant: hands
- 17:22Annette Grant: up
- 17:22Annette Grant: and
- 17:22Annette Grant: go,
- 17:22Annette Grant: I
- 17:23Annette Grant: didn't
- 17:23Annette Grant: know
- 17:23Annette Grant: I
- 17:23Annette Grant: was
- 17:23Annette Grant: responsible
- 17:24Annette Grant: for
- 17:24Annette Grant: those
- 17:25Annette Grant: particular
- 17:25Annette Grant: taxes.
- 17:26Annette Grant: Again,
- 17:27Annette Grant: disclaimer,
- 17:28Annette Grant: this
- 17:28Annette Grant: is
- 17:28Annette Grant: where
- 17:29Annette Grant: you
- 17:29Annette Grant: want
- 17:29Annette Grant: to
- 17:29Annette Grant: chat
- 17:30Annette Grant: with
- 17:30Annette Grant: your
- 17:31Annette Grant: CPA
- 17:32Annette Grant: and
- 17:32Annette Grant: also
- 17:33Annette Grant: A
- 17:33Annette Grant: CPA
- 17:33Annette Grant: that's
- 17:34Annette Grant: familiar
- 17:34Annette Grant: with
- 17:34Annette Grant: the
- 17:34Annette Grant: taxes
- 17:35Annette Grant: in
- 17:35Annette Grant: that
- 17:36Annette Grant: local
- 17:36Annette Grant: area.
- 17:37Sarah Karakaian: All
- 17:37Sarah Karakaian: right,
- 17:38Sarah Karakaian: so
- 17:38Sarah Karakaian: here's
- 17:38Sarah Karakaian: what
- 17:38Sarah Karakaian: you
- 17:38Sarah Karakaian: wanna
- 17:38Sarah Karakaian: do.
- 17:39Sarah Karakaian: You
- 17:39Sarah Karakaian: wanna
- 17:39Sarah Karakaian: check
- 17:40Sarah Karakaian: your
- 17:40Sarah Karakaian: city,
- 17:41Sarah Karakaian: county,
- 17:41Sarah Karakaian: and
- 17:42Sarah Karakaian: state
- 17:42Sarah Karakaian: taxes
- 17:42Sarah Karakaian: of
- 17:42Sarah Karakaian: wherever
- 17:43Sarah Karakaian: your
- 17:43Sarah Karakaian: short-term
- 17:43Sarah Karakaian: rental
- 17:44Sarah Karakaian: is
- 17:44Sarah Karakaian: located
- 17:44Sarah Karakaian: and
- 17:44Sarah Karakaian: make
- 17:45Sarah Karakaian: sure
- 17:45Sarah Karakaian: you
- 17:45Sarah Karakaian: understand
- 17:46Sarah Karakaian: them.
- 17:47Sarah Karakaian: There
- 17:47Sarah Karakaian: are
- 17:47Sarah Karakaian: tools
- 17:48Sarah Karakaian: out
- 17:48Sarah Karakaian: there
- 17:48Sarah Karakaian: like
- 17:48Sarah Karakaian: a
- 17:49Sarah Karakaian: company,
- 17:49Sarah Karakaian: Avalara,
- 17:50Sarah Karakaian: they
- 17:50Sarah Karakaian: have
- 17:50Sarah Karakaian: my
- 17:50Sarah Karakaian: lodge
- 17:51Sarah Karakaian: tax,
- 17:51Sarah Karakaian: which
- 17:52Sarah Karakaian: helps
- 17:52Sarah Karakaian: you,
- 17:53Sarah Karakaian: uh,
- 17:53Sarah Karakaian: collect
- 17:53Sarah Karakaian: and
- 17:53Sarah Karakaian: remit
- 17:54Sarah Karakaian: taxes
- 17:54Sarah Karakaian: appropriately.
- 17:55Sarah Karakaian: There's
- 17:55Sarah Karakaian: obviously
- 17:56Sarah Karakaian: a
- 17:56Sarah Karakaian: cost
- 17:56Sarah Karakaian: to
- 17:56Sarah Karakaian: that
- 17:57Sarah Karakaian: service.
- 17:58Sarah Karakaian: And
- 17:58Sarah Karakaian: last
- 17:58Sarah Karakaian: but
- 17:58Sarah Karakaian: not
- 17:59Sarah Karakaian: least.
- 17:59Sarah Karakaian: Make
- 18:00Sarah Karakaian: sure
- 18:00Sarah Karakaian: you're
- 18:00Sarah Karakaian: setting
- 18:00Sarah Karakaian: this
- 18:00Sarah Karakaian: up
- 18:01Sarah Karakaian: with
- 18:01Sarah Karakaian: your
- 18:01Sarah Karakaian: CPA
- 18:02Sarah Karakaian: and
- 18:02Sarah Karakaian: you
- 18:02Sarah Karakaian: fully
- 18:02Sarah Karakaian: understand
- 18:03Sarah Karakaian: it
- 18:03Sarah Karakaian: before
- 18:03Sarah Karakaian: you
- 18:03Sarah Karakaian: put
- 18:04Sarah Karakaian: your
- 18:04Sarah Karakaian: short-term
- 18:04Sarah Karakaian: rental
- 18:04Sarah Karakaian: into
- 18:05Sarah Karakaian: service.
- 18:05Sarah Karakaian: Because
- 18:06Sarah Karakaian: getting
- 18:06Sarah Karakaian: it
- 18:06Sarah Karakaian: all
- 18:06Sarah Karakaian: figured
- 18:07Sarah Karakaian: out
- 18:07Sarah Karakaian: now
- 18:08Sarah Karakaian: rather
- 18:08Sarah Karakaian: than
- 18:08Sarah Karakaian: later
- 18:09Sarah Karakaian: will
- 18:09Sarah Karakaian: help
- 18:09Sarah Karakaian: you
- 18:09Sarah Karakaian: save
- 18:10Sarah Karakaian: tons
- 18:10Sarah Karakaian: of
- 18:10Sarah Karakaian: money.
- 18:11Annette Grant: But
- 18:11Annette Grant: also,
- 18:11Annette Grant: let's
- 18:11Annette Grant: face
- 18:12Annette Grant: it,
- 18:12Annette Grant: some
- 18:12Annette Grant: of
- 18:12Annette Grant: you
- 18:12Annette Grant: might
- 18:13Annette Grant: have
- 18:13Annette Grant: been
- 18:13Annette Grant: up
- 18:13Annette Grant: and
- 18:13Annette Grant: running
- 18:14Annette Grant: for
- 18:14Annette Grant: a
- 18:14Annette Grant: very
- 18:14Annette Grant: long
- 18:15Annette Grant: time.
- 18:15Sarah Karakaian: Yeah.
- 18:16Annette Grant: It
- 18:16Annette Grant: doesn't
- 18:16Annette Grant: mean
- 18:16Annette Grant: you
- 18:16Annette Grant: can't
- 18:17Annette Grant: just
- 18:18Annette Grant: slow
- 18:18Annette Grant: down
- 18:18Annette Grant: to
- 18:18Annette Grant: speed
- 18:18Annette Grant: up.
- 18:19Annette Grant: Now,
- 18:19Annette Grant: put
- 18:20Annette Grant: that
- 18:20Annette Grant: call
- 18:20Annette Grant: into
- 18:20Annette Grant: your
- 18:20Annette Grant: CPA
- 18:21Annette Grant: start
- 18:22Annette Grant: fixing
- 18:22Annette Grant: these
- 18:22Annette Grant: moving
- 18:23Annette Grant: forward.
- 18:25Sarah Karakaian: All
- 18:25Sarah Karakaian: right,
- 18:25Sarah Karakaian: so
- 18:26Sarah Karakaian: in
- 18:26Sarah Karakaian: conclusion.
- 18:27Sarah Karakaian: Talk
- 18:28Sarah Karakaian: to
- 18:28Sarah Karakaian: your
- 18:28Sarah Karakaian: CPA.
- 18:29Sarah Karakaian: As
- 18:29Sarah Karakaian: a
- 18:29Sarah Karakaian: reminder,
- 18:30Sarah Karakaian: Annette
- 18:30Sarah Karakaian: and
- 18:30Sarah Karakaian: I
- 18:30Sarah Karakaian: are
- 18:30Sarah Karakaian: not
- 18:31Sarah Karakaian: CPAs,
- 18:32Sarah Karakaian: we
- 18:32Sarah Karakaian: are
- 18:32Sarah Karakaian: not
- 18:32Sarah Karakaian: tax
- 18:33Sarah Karakaian: advisors.
- 18:33Sarah Karakaian: But
- 18:33Sarah Karakaian: also
- 18:34Sarah Karakaian: if
- 18:34Sarah Karakaian: you
- 18:34Sarah Karakaian: wanna
- 18:34Sarah Karakaian: reach
- 18:35Sarah Karakaian: out
- 18:35Sarah Karakaian: to
- 18:35Sarah Karakaian: our
- 18:35Sarah Karakaian: friend
- 18:35Sarah Karakaian: Amanda
- 18:36Sarah Karakaian: again,
- 18:36Sarah Karakaian: Amanda
- 18:36Sarah Karakaian: Hahn
- 18:37Sarah Karakaian: we'll
- 18:37Sarah Karakaian: put
- 18:37Sarah Karakaian: her
- 18:38Sarah Karakaian: information
- 18:38Sarah Karakaian: in
- 18:38Sarah Karakaian: the
- 18:38Sarah Karakaian: show
- 18:39Sarah Karakaian: notes.
- 18:40Sarah Karakaian: Um,
- 18:40Sarah Karakaian: she's
- 18:40Sarah Karakaian: made
- 18:41Sarah Karakaian: quite
- 18:41Sarah Karakaian: the
- 18:41Sarah Karakaian: name
- 18:41Sarah Karakaian: for
- 18:41Sarah Karakaian: herself
- 18:42Sarah Karakaian: being
- 18:42Sarah Karakaian: a
- 18:43Sarah Karakaian: go-to
- 18:44Sarah Karakaian: tax
- 18:44Sarah Karakaian: advisor
- 18:44Sarah Karakaian: for
- 18:45Sarah Karakaian: real
- 18:45Sarah Karakaian: estate
- 18:45Sarah Karakaian: investors.
- 18:47Sarah Karakaian: But
- 18:47Sarah Karakaian: I
- 18:47Sarah Karakaian: know
- 18:47Sarah Karakaian: a
- 18:48Sarah Karakaian: lot
- 18:48Sarah Karakaian: of
- 18:48Sarah Karakaian: us
- 18:49Sarah Karakaian: I've
- 18:49Sarah Karakaian: seen
- 18:49Sarah Karakaian: all
- 18:49Sarah Karakaian: the
- 18:49Sarah Karakaian: time
- 18:50Sarah Karakaian: where.
- 18:51Sarah Karakaian: Short-term
- 18:51Sarah Karakaian: rental
- 18:51Sarah Karakaian: owners,
- 18:51Sarah Karakaian: just
- 18:52Sarah Karakaian: kind
- 18:52Sarah Karakaian: of
- 18:52Sarah Karakaian: talk
- 18:52Sarah Karakaian: about
- 18:52Sarah Karakaian: the
- 18:52Sarah Karakaian: tax
- 18:53Sarah Karakaian: advantages,
- 18:53Sarah Karakaian: but
- 18:54Sarah Karakaian: not
- 18:54Sarah Karakaian: realizing
- 18:54Sarah Karakaian: how
- 18:55Sarah Karakaian: nuanced
- 18:55Sarah Karakaian: it
- 18:55Sarah Karakaian: is
- 18:56Sarah Karakaian: to
- 18:56Sarah Karakaian: remind
- 18:56Sarah Karakaian: your
- 18:57Sarah Karakaian: CPA,
- 18:57Sarah Karakaian: that
- 18:57Sarah Karakaian: this
- 18:57Sarah Karakaian: is
- 18:58Sarah Karakaian: what,
- 18:58Sarah Karakaian: this
- 18:58Sarah Karakaian: is
- 18:58Sarah Karakaian: a
- 18:58Sarah Karakaian: strategy
- 18:58Sarah Karakaian: you
- 18:59Sarah Karakaian: wanna
- 18:59Sarah Karakaian: take
- 18:59Sarah Karakaian: advantage
- 18:59Sarah Karakaian: of,
- 19:00Sarah Karakaian: and
- 19:00Sarah Karakaian: making
- 19:00Sarah Karakaian: sure
- 19:00Sarah Karakaian: that
- 19:00Sarah Karakaian: they're
- 19:00Sarah Karakaian: setting
- 19:01Sarah Karakaian: you
- 19:01Sarah Karakaian: up
- 19:01Sarah Karakaian: for
- 19:01Sarah Karakaian: success,
- 19:02Sarah Karakaian: that
- 19:02Sarah Karakaian: you
- 19:02Sarah Karakaian: are
- 19:02Sarah Karakaian: setting
- 19:02Sarah Karakaian: yourself
- 19:03Sarah Karakaian: up
- 19:03Sarah Karakaian: for
- 19:03Sarah Karakaian: success
- 19:03Sarah Karakaian: as
- 19:04Sarah Karakaian: well.
- 19:05Sarah Karakaian: And
- 19:05Sarah Karakaian: with
- 19:05Sarah Karakaian: that,
- 19:05Sarah Karakaian: I
- 19:06Sarah Karakaian: am
- 19:06Sarah Karakaian: Sarah
- 19:06Sarah Karakaian: Karakaian.
- 19:07Sarah Karakaian: I'm
- 19:07Sarah Karakaian: Annette
- 19:07Annette Grant: Grant,
- 19:08Annette Grant: and
- 19:08Annette Grant: together
- 19:08Annette Grant: we
- 19:08Annette Grant: are
- 19:09Annette Grant: Thanks
- 19:09Annette Grant: for
- 19:09Annette Grant: Visiting.