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Updated almost 5 years ago,
House hacking tax advice
Hello BP members, I am a new REI in Oklahoma. I have purchased my first property and I am curious as to what I should do about collecting rent. I am house hacking this property and for tax purposes I am trying to find out whether it matters if I collect rent in my name or open a business checking account and collect it through that account or if it even matters. I have tried to get in touch with some local CPAs in my area but due to the time of year and what is going on in the world I have not found anyone available or with the knowledge to assist me.
I would greatly appreciate any help on this matter as well as any recommendations on any CPAs in or around the Texoma area.