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...

Unlock Tax Deductions with a Rental Property Home Office

With the start of a new tax year, you’re probably looking for new tax savings opportunities. As you probably know, establishing a home office for your Schedule C or corporate business creates valuable tax deductions. But it’s not available only for your...

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...