Tax tip: Time your winter getaway — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Tax tip: Time your winter getaway

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in Small Business Tax,Small Business Tax Deduction Strategies

If you own a vacation home you rent out, rental deductions are limited to rental income if your personal use exceeds the greater of 14 days or 10% of the rental time. To preserve a deductible loss for 2010, rejigger your schedule.

For example, instead of spending the last two weeks of December at the home, you might stay one week in December and one week in January to keep below the 14-day/10% limit.

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