Short Term Rental Tax Rules: Passive Losses, Material Participation, and Self Employment Tax
Short term rental losses are not automatically nonpassive. Learn how the 7 day and 30 day rules interact with material participation, when real estate professional status is unnecessary, when Schedule C and self employment tax may apply, and how cost segregation can affect the tax result.
Schedule C or Form 1065? How Husband and Wife LLC Owners Should Choose
Should a husband and wife LLC file Schedule C or Form 1065? Learn how community property rules affect eligibility and compare the filing costs, self employment tax treatment, deadlines, and state requirements of each option.