Looking for CPA, tax advantages of STR
Hi All!
Looking for a knowledgeable CPA who's good with real estate tax advantages, specifically looking at STRs. Please let me know if you known someone qualified!
John Underwood
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A STR is a simple schedule E deduction. You could add cost segregation, otherwise not rocket science.
Bruce Woodruff
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Quote from @John Underwood:
A STR is a simple schedule E deduction. You could add cost segregation, otherwise not rocket science.
I found out this year that you can also use Schedule C if your average rental period is 7 days or less and you provide services (Similar to a hotel).
This has some tax advantages because you can take more deductions, but you also have to pay SE taxes. But check with your CPA or Tax person, many of them will not be aware of this....
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