Looking for a CPA familiar with vacation rentals? I am located in South Florida and have been having trouble finding a reliable CPA. Any help would be greatly appreciated.
Try @Lance Lvovsky
Thanks for the mention. Happy to see how I can help.
Do you provide strategic, Real Estate tax planning throughout the year for clients? @Lance Lvovsky
I believe the forum rules forbid CPAs discussing their businesses. You can read about me (and others for that matter) by googling or clicking my bio link.
David and Timothy,
I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options.
I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.
Good luck and let me know if you have any questions.
Your profile hints at having an LLC with more than 1 member. Just an FYI that this may require the filing of a partnership return.
There are certainly things you can play around with when you have a business such as wholesaling(retirement accounts, health insurance deduction, home office, etc)
Make sure to talk with a professional who understands taxation when it involves wholesalers.
Is this a vacation home or a short-term rental?
They are considered differently for tax purposes.
Regarding Florida, it is one of the few states that may charge a sales and use type of tax/occupancy tax for short-term stays within Florida.
Make sure your professional understands this.