Sylco Consulting Inc./Sylvain Group

06/16/2026

She bought the Airbnb to build wealth.

She didn't know it could also wipe out the taxes on her job.

Her name isn't important. What matters is the situation because I've seen it dozens of times.

Doctor. High salary. Bought a short-term rental in Florida because everyone was talking about it. Put it on Airbnb. Hired a local CPA to handle the taxes. CPA put it on Schedule E. Filed the return. Called it done.

Meanwhile she had $40,000 in rental losses sitting there. Depreciation, mortgage interest, furnishings, maintenance. All of it. Real money spent on a real asset.

And none of it was touching her tax bill.

I asked her: what was the average stay length on her property? She looked it up. Four nights. Every single guest. Well under 7 days.

Here's what that means and this is the part her CPA missed.

When your average guest stays 7 days or less, the IRS doesn't classify your property as a rental anymore. It reclassifies it as a business activity. And business losses unlike rental losses can be used to offset your regular income. Your W-2. Your salary.

But there's a second piece. You have to prove you actually ran it.

Not just owned it. Worked in it.

The IRS calls this Material Participation.

The clearest path is 500 or more hours of documented work during the year.

Coordinating cleaners. Responding to guests. Handling maintenance. Managing listings.

If you're doing the work, you're already close. You just need the records to prove it.

When you put both of those together?

Her $40,000 in losses became $40,000 in deductions against her doctor salary. At her tax rate, that was over $14,000 back in her pocket. Legally. In one return.

She thought her Airbnb was a wealth-building vehicle. She was right. She just didn't know it was also a tax strategy.

That's what we do. That's what we've always done.

If you own a short-term rental and you're not sure whether this strategy is working in your returns, that's exactly what the Tax Recovery Audit is designed to find out.

DM us the word AUDIT and we'll take a look.

This is general tax education. Consult a tax professional for advice specific to your situation.

12/05/2025

“𝗗𝗼 𝗜 𝗡𝗲𝗲𝗱 𝗮𝗻 𝗟𝗟𝗖 𝘁𝗼 𝗗𝗲𝗱𝘂𝗰𝘁 𝗘𝘅𝗽𝗲𝗻𝘀𝗲𝘀?”

Stop believing you need fancy paperwork just to start saving money on taxes.

One of the biggest myths holding new entrepreneurs back is the idea that the IRS won’t let you write off expenses unless you form an LLC.

𝗧𝗵𝗲 𝗧𝗿𝘂𝘁𝗵:

According to the IRS, you do not need an LLC to deduct ordinary and necessary business expenses.
If you’re earning income and operating with a profit motive, you can deduct your business expenses as a sole proprietor on Schedule C — as long as you can prove they’re legitimate.

The IRS cares about documentation, not entity type.

𝗪𝗵𝗮𝘁 𝗧𝗵𝗶𝘀 𝗠𝗲𝗮𝗻𝘀 𝗳𝗼𝗿 𝗬𝗼𝘂:

You don’t need permission to start saving on taxes.
You just need to track your money like a real business.

𝗬𝗼𝘂𝗿 𝗔𝗰𝘁𝗶𝗼𝗻 𝗦𝘁𝗲𝗽:

Start tracking every business-related dollar you spend — today.
Use a dedicated account, a bookkeeping app, or even a simple spreadsheet.
Your future self (and your tax bill) will thank you.

𝗡𝗲𝗲𝗱 𝗦𝘂𝗽𝗽𝗼𝗿𝘁?

If you want help structuring your records so you're compliant and audit-ready, 𝗗𝗠 “C𝗹𝗮𝗿𝗶𝘁𝘆 𝗖𝗵𝗲𝗰𝗸.”

We’ll see if our Strategy Session is the right next step for you.

07/31/2024

There's a lot to consider when you start planning for retirement. One of the best ways to begin is to write down all of your concerns. If you’re stuck, we’ve listed some commonly asked retirement questions below. If you need more personalized assistance, look no further. We'll work with you to plan a financially secure retirement. Call (718) 703-3212 to set up your appointment today!

07/30/2024

Enrolled agents are tax advisors who hold federal authorization as tax practitioners, granted authority by the U.S. Department of Treasury. It's legal for enrolled agents to represent taxpayers and we make this a seamless process for you. Have questions? Get real answers and give us a call today at (718) 703-3212.

07/29/2024

Maintaining proper documentation, time management skills, and automating daily tasks can significantly help your organization and success as a business owner. Maintain accurate records of your business finances through recording every transaction into the proper accounts on a weekly basis. Keep copies of all your invoices, cash receipts and cash payments as well for tax purposes. Need other business tips? Contact us at (718) 703-3212 – we’d love to help!

07/26/2024

Innocent Spouse Relief is provided by the IRS as a means of financial relief to a spouse who has found themselves unfairly held responsible for errors in income reporting on a joint tax return. Because both spouses are typically responsible for taxes owed on joint returns, the Innocent Spouse Relief allows one to be relieved of the tax, interest, and penalties. In order to be eligible for the assistance, you must meet specific requirements.

Tax matters can be complex, especially when joint financial responsibilities come into play for married couples. In situations where errors or discrepancies on a tax return unfairly hold one spouse accountable, Innocent Spouse Relief becomes a valuable tool. In this blog post, we'll explore the conc...

07/24/2024

We can’t exercise once a quarter and expect to be in great shape. Just like fitness, effective bookkeeping requires our attention and energy on a regular basis. Ideally, you should log expenses and payments received as they occur. If not applicable for you, set aside 20-60 minutes once a week to record transactions and review financial statements. Books behind? Get caught up by contacting us at (718) 703-3212 to discuss how we can help you!

07/23/2024

Once you've pinpointed your income sources, the next step in retirement income planning is to determine what expenses you will be paying for throughout your retirement. Doing so will give you a clearer picture on how much money you will need to save for to live comfortably in retirement. If you're looking for any assistance with your retirement plan, we're here to help. Call us at (718) 703-3212 to schedule your appointment today.

07/22/2024

With some incredibly impressive outcomes, we have assisted companies in optimizing and transforming their processes through our business consulting services - it is what we live and breathe! Our technology, approaches, and knowledgeable insights have been created based on the same problems that you encounter. Give us a call today at (718) 703-3212 to discuss your options.