3 Short-Term Rental Tax Mistakes That Can Trigger an IRS Audit

click here: Leave a text, tell us what you likedOwning a short-term rental can be a great source of income—but it also comes with tax risks that many investors overlook.In this episode, we break down three common tax mistakes that can trigger an IRS audit, including:• Failing to separate land value from building value when calculating depreciation• Misclassifying renovations and repairs• Exceeding personal use limits and losing business tax statusThese mistakes are more common than most property owners realize—and they can lead to disallowed deductions, penalties, or worse.You’ll learn how to stay compliant, protect your tax benefits, and build a more defensible short-term rental strategy.📖 Read the full article: https://retirecoast.com🧰 Explore tools and resources for investors: https://retirecoast.com/business-builder-membership/Support the show🎙️ Enjoyed This Episode?Subscribe to the RetireCoast Podcast for practical conversations about retirement planning, financial preparedness, estate planning, entrepreneurship, and life on the Mississippi Gulf Coast.👉 Visit RetireCoast.com for in-depth articles, calculators, decision tools, checklists, and guides that expand on the topics we cover in each episode.📋 Looking for more advanced planning resources?Explore our membership programs:• Estate Planning Membership — Build and organize your legacy with decision tools, trust planning resources, trustee selection guidance, emergency preparedness documents, and more.• Business Builder Membership — Access tools and resources designed to help entrepreneurs, retirees, side-hustlers, and small business owners start, manage, and grow a successful business.• All Access Membership — Receive complete access to both memberships and our entire premium planning library.Learn more at:https://retirecoast.com/estate-planning-membership/https://retirecoast.com/business-builder-membership/https://retirecoast.com/all-access-membership/💬 Have a question or a topic you'd like us to cover?Email: [email protected]...