Hi there! This may be non-applicable to many, but I formed an LLC after signing onto the BNB academy ($12k) with intentions of operating an arbitrage using the academy for coaching, and then separately used a separate consulting service to help source an arbitrage- ($2.5k) but never launched in 2025. My question is- can I write off all the coaching costs as consults and losses against my W2, or is that a NO because I have made no profit in 2025? What CAN I write off and how? LLC expenses, computer, home office? Thank you!!

Dyson from Hawaii here! Looking to buy my first STR at 23 and become more tax smart in the process. Excited to join this community!

Happy New Year everyone! Does anyone know how claiming equity, depreciation, and deductions for leasehold properties works for short term rentals? It's common in Hawaii to buy leasehold properties and convert them to short term rentals, but it's so rare on the mainland U.S., so this has stumped everyone I have asked so far. Thank you so much!