Create Deductions: Use Your Vacation Home for Business Lodging

Here’s good news: the properly used business vacation home or condo does not suffer from • the vacation-home rules,• the passive-loss rules, or• the entertainment-facility rules. In these days of COVID-19, you may have solid reasons to use your vacation home or condo...

TCJA Changes Vacant Land Tax Strategies

The Tax Cuts and Jobs Act (TCJA) likely requires that you rethink the tax strategies you were using on your vacant land investments.  And the TCJA changes may be such that you have to rethink vacant land as an investment, at least for the years impacted by the TCJA....

Tax Issues of Converting Your Residence into a Rental Property

The simple maneuver of converting your personal residence to a rental property brings with it many tax rules, mostly good when you know how they work.   The first question that arises when you convert a personal residence into a rental is how to determine the...

Personal Use of Your Rental Triggers Ugly Vacation Home Rules

You must consider the vacation home rules when you rent a bedroom in your home and also use it personally, or rent your beach home (or any other home you own) and also use it personally. Personal Use of the Dwelling   Rent or use by relatives. Personal use...