All Forum Posts by: Max Smetiouk

@John Malone 

Where can I find good info on STR tax savings and who is it appropriate for?

Thank you,

Max

Hello Ryan,

I am looking to acquire property and debating between regular LT rental and STR rental. Appeal of STR tax savings is appealing, but I don't want to end up like Jackson.

Love your post! Is it realistic to pass material participation test if the property located far from primary residence, like vacation rental?

Then all you realistically can do is manage bookings, delegate to handymen for repairs and hire cleaning service. Does it mean this strategy is best if you are in close proximity and take on more tasks yourself?

Thank you,

Max

Hi Nate,

You can ammend your taxes going back 3 yrs.

If it wasn't your primary residence over the last 3 years than you should be able to treat it as rental and recoup expenses. 

If you kept all necessary receipts your tax professional should be able to sort this out.

Good luck 

Max

Hi James,

Excellent points!

That's what i call critical thinking. Don't just eat up everything you read and hear.

Start asking questions instead of taking everything for face value. 

Because Google is never wrong 😆

Hi, came across this article on avg down payment by state.

https://www.visualcapitalist.com/cp/median-down-payment-for-...

Max

Nice, this area has lots to be desired.

Curious where did you find this info?

Thank you.

Max