Do you carry liability insurance?

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.

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.

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

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

However, it's important to note that it functions as a deferral, meaning the taxes owed will be carried over to the next property.

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

(just like a 2nd but shows up as one loan that has two payments each month) You do these when the seller has a lot of equity and will do a “carry back” instead of requiring cash at closing.