Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago,

User Stats

4
Posts
1
Votes
Aaron Eveland
1
Votes |
4
Posts

Newbie Question about Accelerated Depreciation

Aaron Eveland
Posted

Trying to get some information on how taxes work because I may need to hire the professional this year. I have a W2 job, self employment and then my rental properties. I have used TurboTax for the last few years as it seemed my taxes were logistically manageable. But I just acquired another rental property, dropped $25k in the renovation at the end of 2021. Through my W2 job, I have already paid about $17k in taxes and it appears I will owe another few thousand. Through turbotax I get the standard depreciation, but I have been hearing about accelerated depreciation and it seems that can bet the best way to lower my tax burden. I will likely hire a professional CPA to take care of my taxes, but want to understand if the accelerated depreciation will help me. Also, if you have any referrals for tax pros in Hawaii, please let me know. 

Loading replies...