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Ryan Elam
  • Denver, CO
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Looking for CPA - STR Tax Strategy

Ryan Elam
  • Denver, CO
Posted

Hi there, 

I'm a new STR investor and am looking for a CPA who is an STR tax expert.

In particular, I am looking to deduct 20-25% my STR purchase price. 

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Aaron Zimmerman
  • Accountant
  • Chicago, IL
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Aaron Zimmerman
  • Accountant
  • Chicago, IL
Replied

You would probably need to do a cost segregation and keep track of furniture and fixtures (to furnish the airbnb). Depending on level of income/REP status, you may be able to deduct some, all, or none, of the potentially accelerated depreciation. I'd recommend talking to a few CPAs on here and seeing who you resonate with and determining if it's worth it to do a cost seg. 

Typically, you can get larger year 1 write offs due to bonus depreciation of the items mentioned above. 

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