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Updated 11 months ago on . Most recent reply
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CPA recommendations for Short term rental
Hi BP community,
I live in charlotte NC, and I am a W2 employee. I just purchased my first property with a 2nd home loan in Savannah Georgia that I am running as a short term rental. I believe this is considered active income. I am looking for a CPA that specializes in short term rentals that can help me navigate this process. I may want to do a cost segregation study and look into tax benefits. Does anyone have any recommendations? Does the location matter? If so does it need to be local to savannah or charlotte?
Thanks,
Patrick Forelli
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- New York, NY
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If you got the property using a second home loan, you want to be careful with the amount of days that you stay in the property.
If you stay in the property for more than 14 days, it may potentially be hard to utilize the losses against other forms of income.
- Basit Siddiqi
- [email protected]
- 917-280-8544
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