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Let’s say you own a building.
Next, let’s say that you rent your building to your business.
This arrangement, not unreasonably, is called a “self-rental.”
But be aware…
If you haven’t done any tax planning, your self-rental may actually turn into a self-rental trap!
What exactly is the self-rental trap?
Here’s the answer in a nutshell.
If you handle things the wrong way, the trap…
- Makes rental income from your building nonpassive. This means income can’t offset any passive losses. Ouch!
- Makes rental losses from your building passive losses. This means that you likely can’t deduct the losses this year. Double Ouch!
If you want to avoid the passive loss problem…
CLICK HERE to get my complete article…
“Don’t Get Caught
in the Self-Rental Trap”