Maximize Your Tax Deductions

Have you ever thought about how a boat could be more than just a fun asset? Here's a little-known secret: boats can be a game-changer in your short-term rental business

We recently navigated tax laws to help a client transform their lakefront rentals with boats. By utilizing bonus depreciation, they significantly reduced their taxable income since the boats were used by their guests, making them a business asset.

Until 2022 Bonus Depreciation was 100% but don't worry, it's still 80% in 2023! This means you can deduct a significant portion of the cost of assets used for business purposes.

Have you used any creative tax strategies for your rentals? Let us know in the comments and share this with someone who may need it. Need more info, click the link in our bio/ DM Us Now!