A properly structured short-term rental can turn what would normally be “passive” rental losses into non-passive losses that may offset W-2 wages, business income, and other active income , provided you meet the IRS rules on average guest stay and material participation. 1) How the U.S. tax system works The U.S. tax system is a rules-based system that rewards behavior Congress wants to encourage. In practice, that means taxes are not reduced mainly by “working harder,” but b

Back in 2023, I was honored to be featured in Bold Journey Magazine. At the time, I shared my journey through imposter syndrome and how...

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