STR-Friendly CPA in Tennessee

Tax, SDIRAs & Cost Segregation
1yFollow

STR-Friendly CPA in Tennessee

Tyler Ingram
Member since 2023 · 13 posts · 5 votes

Hello Bigger Pockets!

Does anyone have a CPA they recommend that is familiar with maximizing tax advantages on short term rentals? 

Thanks in advance! 

3Reply
170 views

7 Replies

Jump to latestLatest
  • Michael PlaksPro Member
    Tax Accountant / Enrolled Agent · Houston, TX · Member since 2014 · 5k+ posts · 6k+ votes
    1y

    Every CPA who is active on this forum, and there're over 20 of us here, is very familiar with STRs. We all work nationwide.

    The problem is that you posted your inquiry in the tax forum, and Bigger Pockets rules prohibit us from offering you our services. We cannot do it here on the forum, and we cannot send you a PM (although some people will do so anyway ignoring the rules).

    Once the moderators move your post into Classifieds, then we can offer you help. Until then, you must initiate the contact from your end.

    Here is some introduction to STR taxation:
    https://www.biggerpockets.com/forums/51/topics/1122635-the-s...

    0Reply
  • Rohullah Sharifi
    Dr · VA · Member since 2025 · 154 posts · 34 votes
    1y

    I’m a strong proponent of Short-Term Rentals (STRs) when structured correctly, as they can offer significant tax advantages — particularly the ability to generate non-passive income without qualifying as a Real Estate Professional.

    To fully benefit from this strategy, it's important that you:

    1. Actively participate in managing the property, and

    2. Maintain detailed records and logs to document your material participation hours (e.g., time spent on guest communications, cleaning coordination, repairs, marketing, etc.).

    Proper documentation not only supports your position in the event of an audit, but it's also essential for meeting the IRS thresholds for material participation under the STR exception.

    happy to help.

    0Reply
  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    1y

    There are a lot of great real estate CPAs on here. You'll want to be guided on the transaction in terms of documentation needed. With something as big as the short term rental loophole, you want to make sure documentation is buttoned up and you know the tax consequences at the outset

    [email protected]
    Brick House CPAs53 Reviews
    WebsiteView Page
    0Reply
  • Josh L.
    USA · Member since 2023 · 145 posts · 84 votes
    1y

    @Tyler Ingram Plenty here on BP as stated already. One quick note as you think through material participation:

    7 material participation rules (just need to meet one), with the first criteria being that you participated in the activity (i.e., STR) for more than 500 hours in the current year. More nuances from there.

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    11mo

    To maximize your benefits, you want to confirm that the property will be treated as active instead of passive. Furthermore, you will likely want to get a cost segregation study to accelerate the depreciation in the first year.

    Best of luck!

    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
    View Page
    0Reply
  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
    11mo

    There are a lot of great CPAs here who specialize in short-term rentals on here. From my experience as an investor and working with many others, solid bookkeeping is key when it comes to tracking expenses, deductions, and actively managing your financials can make a big difference as you scale. Meeting material participation rules is also huge, dont miss out on QIP tax savings for STRs, and a good CPA can guide you through all of that.

    Planning improvements or new furnishings strategically can impact which tax year you claim deductions in and help you reinvest more effectively.

    On another note, Tennessee is a great state for STR investing. I've heard a lot of great things about cities like Nashville, Chattanooga, Pigeon Forge, and Gatlinburg, which offer cool properties and rental potential, making it an exciting market for growth.

    [email protected]941-914-7779
    INVESTOR FRIENDLY CPA®5241 Reviews
    WebsiteView Page
    TaxMD™ | AI-Powered Tax Planning
    WebsiteView Page
    0Reply
  • Bill HamptonBusiness Member
    Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 977 votes
    11mo

    There are plenty of accountants on here that are familiar with the STR loophole. Reach out to a few and see who is a good fit.

    Good luck. 

    404-482-3170
    Hampton Tax and Financial Services LLC4.7106 Reviews
    WebsiteView Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free