All Forum Posts by: Alex M.

AGREE with @Luke Carl  Airdna is way overrated and not worth the money.  my theory is they are overpricing because they realize eventually people will catch on and the gravy train will be over.

Be careful in markets where snowfall can make or break you.

thats my advice.

@Brian V.   thanks- yeah Chattanooga is great.  I'm still looking around but Nashville, Chat, Knox.  

@Elizabeth Wilson Thanks! Sure -- could you pass along his info?  Maybe he can help! 

Much appreciated.

Hi all,

Im looking for a savvy CPA who can help me with my airbnb business.  i have 6 short term rentals in nyc now, and am lookign to start buying in tennessee, indianapolis, kentucky-- not exactly sure where else.  but definitely in TN.  

Any CPAs in TN that can help me navigate the process of buying my 1st airbnb in TN? 

@Drew Macomber  Have you felt airdna's data is good?  I looked at the Zillow comps they were using for one of the nashville zip codes and it was about $200K under what real values were, which was driving up their return numbers 

I'd just pay the taxes to be safe.  Even if you don't receive a 1099-K there is still ways for IRS to find out.  I had to pay back taxes on an AirBNB that I didnt make over 20K

@Cassandra Popli

Anyone familiar with using these structures for airbnb income?   Seems like a lot of layers, but for me the most important thing is:

1) Protecting my new assets from risky assets I currently have

2) Anonymity (hence NV or WY LLC)

3) Most efficient tax structure as I plan to buy properties for AirBNB

I spoke with the Andersen  Law firm https://andersonadvisors.com/ -- does anyone have any experience using them?

* was told to use the C-Corp on top because it's Active income and thus the C-Corp would be the management company that would accept payments from guests.

*C-Corp would avoid double taxation for small business since say business earnings are $200K before deductions and $50 in deductions, I could pay myself the remaining $150K and eliminate any tax from the C-Corp.  Wouldnt this just make it so my income gets taxed at the higher personal income tax bracket though?  

* was told this structure would allow anonymity

* that it would prevent the due-on-sale clause since the assets are in land trusts and not sold to the Wyoming LLC

Any advice is much appreciated. thanks!

You cant personally work on it, but you can have outside contractors work on it.  no "sweat equity"  

from what I understand.

@Lillie Hernandez  [email protected]

@Erin Spradlin  can help you in Colorodo Springs