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Using a Vehicle in a Short Term Rental Business [Tax Smart Daily 055]

A Short Read


Table Of Contents

    In this video, Brandon explains how you can deduct the cost of the vehicle that you purchased for your short-term rental business. 

    Listen in to learn about:
    • Using Section 179 and Bonus Depreciation to deduct some amount of the vehicle cost
    • Why it is important to track the dates, mileage, and the business purpose of your trips using a business mile log

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    Hall CPA PLLC, real estate CPAs and advisors, helped me save $37,818 on taxes by recommending and assisting with a cost segregation study. With strategic multifamily rehab and the $2,500 de minimus safe harbor plus cost segregation, taxes on my real estate have been non-existent for a few years (and that includes offsetting large capital gains from the sale of property).

    Mike Dymski - Business Owner