Do you carry liability insurance?

The amount of money most people carry in their checking account fluctuates, but what’s ever there is called reserves.

Your number will grow exponentially, not linearly and your blind spots are expenses that you are too frugal to manage today but will eat at a higher price tomorrow.The goal should be to eliminate expenses via consolidation, have multiple sources of income, and carry low risk(debt). 

Your examples and explanations help a lot to clear up the original question, specifically clothing items.Do you recommend I keep a record, separate from my P&L, of purchases that may be less-than-ordinary, such as a cargo box to carry tools in my truck, or car seat protector covers (to protect my truck seat from getting dirty from tools and other items), etc.?

@Andrew HeimannTo invest in Kansas City real estate, you need to be self-educated, have clearly defined goals, know how to relate, start from a small beginning point, seek advice from professionals, and carry out a thorough research.

But there are some circumstances where it might make sense to defer that loss such as if you expect to be in a higher tax bracket in the future and it would help to carry it forward.

I own a short-term rental property that operates much like a hotel, so I carry large commercial insurance.

Excess business losses are capped for single individuals at $250,000 and for married individuals at $500,000, with any surplus being suspended and carried forward.

@Mickael Castillo Rental listings on platforms like Facebook or Craigslist carry a higher risk of scams.

I'm allowed to carry up to 7 DLBA properties now I believe.