How to track time in business to accommodate 500+ hours?

[Jake Bute]

Good Afternoon,

I listened to Wheelwright's podcast the other day discussing how short term rentals do not have the same rules as long-term rentals when it comes to some of the tax laws around active/passive investing. I'm going off the understanding that you still need to spend 500+ hours in the business to achieve material participation (please correct me if I'm wrong).  I wanted to start tracking my daily hours in the business and wanted to understand HOW I need to do this so it gets approved come tax time.  Any help or tips/tricks would be greatly appreciated.

Thanks!