Tax advantages

Bed & Breakfast / Short Term Rental Host Forum

Help Support Bed & Breakfast / Short Term Rental Host Forum:

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.

McQuade72

Active member
Joined
Jun 17, 2018
Messages
26
Reaction score
1
Any tax write off or tips from any new laws from president? Or old laws that is good to look into.
 
The new tax laws will limit the amount of interest payments you can deduct up to $750,000 if you've financed your B&B with a mortgage. If you have a business loan, this limit does not apply.
Anyone who itemizes can deduct their property taxes, but filers must choose between deducting their state & local property, income taxes, or deducting their sales taxes. Again, I believe this only applies to B&Bs owned as homes, not businesses.
 
Back
Top