All Forum Posts by: Ben Trageser

 Agree with this. Feel free to take a look around and see if you like anyone posting on the forum.

Welcome! Where in New Jersey are you originally from?

A couple of things in regards to saving on taxes by utilizing depreciation correctly. If you operate the vacation rental as a short term rental, you will be able to take advantage of taking any losses you have on the property against your ordinary income. There are ways to accelerate depreciation via bonus depreciation and other means. Normally with long term rentals though, losses are considered passive activity losses and not released until you dispose of the property. There are certain income thresholds were this is not the case.

In short, there are a lot of ways to structure a short term rental property along with  your business from a tax perspective to make it a lucrative investment. If it is somewhere that you like to vacation as well, even better!

I would recommend hiring an accountant to do an evaluation of the business. It's not something I have done but know others that have had good success with it.

 Agree with Sean! I recommend finding someone who comments often and interviewing a few different accountants to see who is the best fit.

Welcome to Bigger Pockets! If you have any accounting questions, please feel free to reach out.

Happy to be a resource from an accounting perspective. Feel free to reach out with any questions!

Welcome to Bigger Pocket! If you have any accounting questions, please feel free to reach out as I have extensive experience working with foreign nationals in the US. Happy to be a resource!

Welcome to Bigger Pockets! If you have any accounting questions, feel free to reach out. Best of luck!