Cost Segregation Study

[Kelby Gowin]

I currently just purchased a short term rental this year. I was interested in performing a Cost Segregation Study for tax purposes. This is a single family home located in Fredericksburg, Texas and I was wondering if anyone that invests in the Austin area may know who could perform such study? Also, is there any cons to getting the study done? 

Any help would be much appreciated. 

[Michael Plaks]

@Kelby Gowin and @Allen M Miller

Don't rush it, gentlemen. Neither one of you is guaranteed to benefit from cost segregation. Maybe it will help you, and maybe it won't. If you wonder why so - here is one of the many posts discussing the potential complications:

https://www.biggerpockets.com/forums/51/topics/1075919-five-common-myths-of-cost-segregation-and-100-bonus-depreciation

The good news is that you have plenty of time to do it before your 2022 taxes are prepared. So enjoy the holidays and then reach out to your respective accountants (or find new ones) and have them evaluate your specific situations. If they endorse this strategy for you, then start searching for a provider like @Yonah Weiss or @Julio Gonzalez or maybe pursue a DIY option mentioned by @Basit Siddiqi.