When you rent a bedroom or two or 20, you first examine Section 280A of the tax code to determine whether your bedroom rental is:
When exempt from Section 280A, your bedroom rental faces four tax code sections:
As you can see, bedroom rentals travel a torturous path. Contact us, we will set a time to review your bedroom rentals to achieve the best results.
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.