Uploaded July 2023 | Updated September 2026, 1 week ago
Today, we're discussing why you might not want to become an 'accidental landlord'. It's when you decide to rent out a property you own, that you originally intended to sell - typically after you bought another, new home. While this can sound like a great opportunity for extra income, there are some pitfalls you need to be aware of. And from a tax point of view, there are some big ones.
Download my free ebook for entrepreneurs: SimplifyYourTaxesEbook.com
🗓 Schedule a Consultion With Noel Lorenzana, CPA
https://bookme.name/noelblorenzana
🛑 Freelancers & Side Hustlers: Simplify Your Taxes! Download My Ultimate Guide to Side Hustle Taxes Now!
noellorenzanacpa.com/opt-in-filing-taxes-and-saving-money-ebook
🛑 Got a Side Hustle? File Your Own Taxes Without Hiring an Expensive Accountant!
noellorenzanacpa.com/how-to-file-taxes-for-your-side-hustle
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
📘 FREE Side Hustle Taxes Ebook!
noellorenzanacpa.com/opt-in-filing-taxes-and-saving-money-ebook
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
Twitter: twitter.com/noelblorenzana
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/KX2XTg6ERmY
youtu.be/A7hf8ZISmPE
youtu.be/44bLg8nN0p4
Thanks for watching my video on, Don't Rent Out Your Home Until You Watch This!
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - What is an Accidental Landlord?
00:55 - Generous Capital Gains Exclusion
03:36 - Overall Challenges of Being a Landlord
04:21 - Financial Risk of Becoming an Accidental Landlord
04:53 - Legal Issues: Becoming a Landlord
05:16 - Emotional Stress of Becoming an Accidental Landlord
05:34 - A Quick Story of an Accidental Landlord
06:28 - If You Need Tax Help...
Replay Video Link: youtu.be/RCP5FImwOpo
#landlording #landlordtips #landlord
Today, we're discussing why you might not want to become an 'accidental landlord'. It's when you decide to rent out a property you own, that you originally intended to sell - typically after you bought another, new home. While this can sound like a great opportunity for extra income, there are some pitfalls you need to be aware of. And from a tax point of view, there are some big ones.
Download my free ebook for entrepreneurs: SimplifyYourTaxesEbook.com
🗓 Schedule a Consultion With Noel Lorenzana, CPA
https://bookme.name/noelblorenzana
🛑 Freelancers & Side Hustlers: Simplify Your Taxes! Download My Ultimate Guide to Side Hustle Taxes Now!
noellorenzanacpa.com/opt-in-filing-taxes-and-saving-money-ebook
🛑 Got a Side Hustle? File Your Own Taxes Without Hiring an Expensive Accountant!
noellorenzanacpa.com/how-to-file-taxes-for-your-side-hustle
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
📘 FREE Side Hustle Taxes Ebook!
noellorenzanacpa.com/opt-in-filing-taxes-and-saving-money-ebook
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
Twitter: twitter.com/noelblorenzana
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/KX2XTg6ERmY
youtu.be/A7hf8ZISmPE
youtu.be/44bLg8nN0p4
Thanks for watching my video on, Don't Rent Out Your Home Until You Watch This!
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - What is an Accidental Landlord?
00:55 - Generous Capital Gains Exclusion
03:36 - Overall Challenges of Being a Landlord
04:21 - Financial Risk of Becoming an Accidental Landlord
04:53 - Legal Issues: Becoming a Landlord
05:16 - Emotional Stress of Becoming an Accidental Landlord
05:34 - A Quick Story of an Accidental Landlord
06:28 - If You Need Tax Help...
Replay Video Link: youtu.be/RCP5FImwOpo
#landlording #landlordtips #landlord
