Should You Buy Your Pocono Short-Term Rental in an LLC or in Your Personal Name? One of the questions that comes up often with short-term rental buyers is whether they should purchase the property in an LLC or simply buy it in their personal name as a second home or vacation home. Investors think about liability, lawsuits, taxes, financing, and long-term protection. They want to do things the...
Taxes and STR’s
One strategy that has gained a lot of attention in the past year is what’s commonly called the STR Tax Loophole. Despite the name, it’s not really a loophole. It’s a provision within the tax code that may allow certain short-term rental owners to use “bonus depreciation” or “accelerated depreciation” to generate rental losses that will offset W-2 income, business income, and other active income.