Looking for Talented CPA for Tax Season

[Lisa Geiger]

I work in Coral Springs, FL and live in Lake Worth. I am looking for a CPA/Finance Advisor for my team moving forward. I want to make sure we get all the deductions we can for the start up cost for the AirBNB. My husband and I currently file separate and wonder if it is beneficial to file jointly. Hoping one of you can point me in the right direction and make a suggestion on who to see.... Thanks!

[Basit Siddiqi]

@Lisa Geiger

Have you done an analysis in the past to determine that Married filing separately provided the least amount of taxes? There are few instances where Married Filing Separate can result in less taxes.

Regarding Airbnb / Short-term rentals. compared to their long-term rental counterpart, they may have larger gross income. To fight this from a tax perspective, you want to see if bonus depreciation/immediate write off is available for the items that you furnish the house with.

Also, doing a cost segregation on a future house may potentially be worth-while to guarantee no passive income for a number of years.

of course, it all depends on the numbers and your tax situation. Talk to a CPA before doing any of the above tactics.

Good luck.